MarineMax, Inc. (NYSE:HZO) – Stock analysts at Wedbush issued their Q1 2018 earnings per share estimates for MarineMax in a report released on Wednesday, Zacks Investment Research reports. Wedbush analyst J. Hardiman forecasts that the specialty retailer will post earnings of $0.03 per share for the quarter. Wedbush also issued estimates for MarineMax’s Q2 2018 earnings at $0.11 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.35 EPS and FY2019 earnings at $1.35 EPS.
Other equities research analysts have also recently issued research reports about the company. B. Riley reaffirmed a “buy” rating and set a $19.75 price target on shares of MarineMax in a report on Thursday, October 26th. Citigroup Inc. lifted their price target on MarineMax from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, October 2nd. Craig Hallum set a $21.00 price target on MarineMax and gave the company a “buy” rating in a report on Tuesday, October 31st. TheStreet cut MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. Finally, Forward View cut MarineMax from a “buy” rating to a “hold” rating in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $21.67.
MarineMax (NYSE:HZO) opened at $20.30 on Thursday. The stock has a market cap of $481.83, a PE ratio of 20.10, a price-to-earnings-growth ratio of 0.58 and a beta of 0.99. MarineMax has a twelve month low of $13.80 and a twelve month high of $23.65.
MarineMax (NYSE:HZO) last issued its earnings results on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.11. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The firm had revenue of $250.62 million for the quarter, compared to analysts’ expectations of $231.96 million. During the same quarter last year, the company posted $0.18 earnings per share. MarineMax’s revenue was up 10.2% on a year-over-year basis.
A number of large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its holdings in MarineMax by 4.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 118,179 shares of the specialty retailer’s stock worth $1,956,000 after purchasing an additional 5,258 shares in the last quarter. Wells Fargo & Company MN grew its position in MarineMax by 11.4% in the third quarter. Wells Fargo & Company MN now owns 90,819 shares of the specialty retailer’s stock worth $1,504,000 after buying an additional 9,317 shares during the last quarter. Citadel Advisors LLC grew its position in MarineMax by 67.1% in the third quarter. Citadel Advisors LLC now owns 46,035 shares of the specialty retailer’s stock worth $762,000 after buying an additional 18,480 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in MarineMax in the third quarter worth approximately $4,065,000. Finally, Macquarie Group Ltd. grew its position in MarineMax by 0.6% in the third quarter. Macquarie Group Ltd. now owns 1,185,217 shares of the specialty retailer’s stock worth $19,615,000 after buying an additional 7,492 shares during the last quarter. 90.57% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Hilliard M. Eure sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $16.00, for a total transaction of $40,000.00. Following the sale, the director now owns 14,000 shares of the company’s stock, valued at $224,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the director now directly owns 15,193 shares in the company, valued at approximately $227,895. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,500 shares of company stock worth $1,114,550. 5.00% of the stock is owned by corporate insiders.
MarineMax declared that its board has initiated a stock buyback program on Wednesday, August 2nd that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
MarineMax, Inc is a recreational boat and yacht dealer in the United States. Through 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas, the Company sold new and used recreational boats, including pleasure and fishing boats, as of September 30, 2016.
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