Forward View Equities Analysts Reduce Earnings Estimates for West Marine Inc. (WMAR)
West Marine Inc. (NASDAQ:WMAR) – Equities research analysts at Forward View decreased their Q3 2016 earnings estimates for West Marine in a research note issued on Sunday. Forward View analyst N. Yates now forecasts that the brokerage will earn $0.17 per share for the quarter, down from their previous forecast of $0.18. Forward View currently has a “Hold” rating on the stock. Forward View also issued estimates for West Marine’s FY2016 earnings at $0.22 EPS.
West Marine (NASDAQ:WMAR) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The business earned $251.60 million during the quarter, compared to the consensus estimate of $254.39 million. West Marine had a net margin of 0.89% and a return on equity of 2.08%. The business’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $0.85 EPS.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded West Marine from a “sell” rating to a “hold” rating in a research report on Wednesday, August 24th. B. Riley reiterated a “neutral” rating and set a $10.00 price target on shares of West Marine in a research report on Friday, July 29th. Finally, Sidoti downgraded West Marine from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $9.30 to $9.00 in a research report on Thursday, September 8th.
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Shares of West Marine (NASDAQ:WMAR) traded down 0.87% during trading on Tuesday, reaching $9.16. The company’s stock had a trading volume of 2,304 shares. The stock has a 50 day moving average of $9.37 and a 200-day moving average of $9.14. West Marine has a 1-year low of $7.70 and a 1-year high of $10.39. The company has a market capitalization of $228.44 million, a PE ratio of 36.21 and a beta of 1.45.
Several institutional investors have recently added to or reduced their stakes in WMAR. California State Teachers Retirement System increased its position in West Marine by 1.4% in the second quarter. California State Teachers Retirement System now owns 38,647 shares of the company’s stock valued at $324,000 after buying an additional 524 shares during the period. Parametric Portfolio Associates LLC increased its position in West Marine by 1.6% in the second quarter. Parametric Portfolio Associates LLC now owns 45,486 shares of the company’s stock valued at $382,000 after buying an additional 709 shares during the period. Nationwide Fund Advisors increased its position in West Marine by 2.8% in the second quarter. Nationwide Fund Advisors now owns 41,086 shares of the company’s stock valued at $345,000 after buying an additional 1,100 shares during the period. Bank of New York Mellon Corp increased its position in West Marine by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 118,295 shares of the company’s stock valued at $993,000 after buying an additional 1,654 shares during the period. Finally, Teachers Advisors Inc. increased its position in West Marine by 7.3% in the second quarter. Teachers Advisors Inc. now owns 27,131 shares of the company’s stock valued at $228,000 after buying an additional 1,856 shares during the period. Institutional investors and hedge funds own 61.26% of the company’s stock.
West Marine Company Profile
West Marine, Inc is a waterlife outfitter for cruisers, sailors, anglers and paddlesports enthusiasts. The Company offers a selection of core boating and water recreation products, primarily serving the needs of boat owners and professionals providing services to them. It services its customers through physical stores and two e-commerce Websites.
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