MarineMax, Inc. (NYSE:HZO) Issues Earnings Results, Misses Expectations By $0.11 EPS
MarineMax, Inc. (NYSE:HZO) announced its quarterly earnings data on Thursday. The specialty retailer reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.68 by $0.11, MarketWatch Earnings reports. MarineMax had a net margin of 2.40% and a return on equity of 7.67%. The firm had revenue of $329.80 million during the quarter, compared to the consensus estimate of $383.01 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s revenue was down 4.6% on a year-over-year basis. MarineMax updated its FY17 guidance to $0.97-1.02 EPS.
Shares of MarineMax (NYSE:HZO) traded down 20.76% during midday trading on Thursday, hitting $15.65. The stock had a trading volume of 432,058 shares. MarineMax has a 12 month low of $14.40 and a 12 month high of $23.65. The firm has a market cap of $381.08 million, a price-to-earnings ratio of 15.70 and a beta of 1.04. The stock’s 50 day moving average price is $18.98 and its 200 day moving average price is $20.23.
Several hedge funds and other institutional investors have recently bought and sold shares of HZO. Legal & General Group Plc increased its position in MarineMax by 0.3% in the first quarter. Legal & General Group Plc now owns 40,772 shares of the specialty retailer’s stock valued at $882,000 after buying an additional 105 shares during the period. Municipal Employees Retirement System of Michigan increased its position in MarineMax by 2.8% in the first quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock valued at $192,000 after buying an additional 240 shares during the period. ProVise Management Group LLC increased its position in MarineMax by 1.2% in the first quarter. ProVise Management Group LLC now owns 21,084 shares of the specialty retailer’s stock valued at $456,000 after buying an additional 248 shares during the period. Mason Street Advisors LLC increased its position in MarineMax by 5.2% in the first quarter. Mason Street Advisors LLC now owns 5,676 shares of the specialty retailer’s stock valued at $123,000 after buying an additional 282 shares during the period. Finally, ClariVest Asset Management LLC increased its position in MarineMax by 1.2% in the first quarter. ClariVest Asset Management LLC now owns 25,100 shares of the specialty retailer’s stock valued at $544,000 after buying an additional 300 shares during the period. 90.93% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on the company. B. Riley restated a “buy” rating and issued a $26.00 price objective on shares of MarineMax in a research note on Friday, April 28th. Zacks Investment Research cut MarineMax from a “hold” rating to a “sell” rating in a research note on Friday, June 30th. Finally, Citigroup Inc. restated a “buy” rating and issued a $25.00 price objective (down from $26.00) on shares of MarineMax in a research note on Monday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. MarineMax has an average rating of “Buy” and a consensus price target of $24.33.
COPYRIGHT VIOLATION WARNING: This report was originally published by American Banking News and is the property of of American Banking News. If you are reading this report on another site, it was illegally copied and republished in violation of international copyright and trademark legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2017/07/20/marinemax-inc-nysehzo-issues-earnings-results-misses-expectations-by-0-11-eps.html.
MarineMax Company Profile
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.
Receive News & Ratings for MarineMax Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarineMax Inc. and related companies with MarketBeat.com's FREE daily email newsletter.