West Marine, Inc. (NASDAQ:WMAR) Expected to Post Earnings of $0.89 Per Share
Wall Street brokerages expect West Marine, Inc. (NASDAQ:WMAR) to post earnings of $0.89 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for West Marine’s earnings, with the highest EPS estimate coming in at $0.92 and the lowest estimate coming in at $0.86. West Marine posted earnings per share of $0.86 in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.5%. The company is expected to report its next earnings results after the market closes on Thursday, July 27th.
On average, analysts expect that West Marine will report full-year earnings of $0.35 per share for the current fiscal year, with EPS estimates ranging from $0.34 to $0.36. For the next year, analysts forecast that the business will post earnings of $0.41 per share, with EPS estimates ranging from $0.35 to $0.48. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that follow West Marine.
West Marine (NASDAQ:WMAR) last released its earnings results on Wednesday, April 26th. The specialty retailer reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. The company had revenue of $129.10 million during the quarter, compared to the consensus estimate of $130.88 million. West Marine had a return on equity of 2.70% and a net margin of 1.19%. West Marine’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.37) earnings per share.
A number of brokerages have recently commented on WMAR. B. Riley lowered West Marine from a “buy” rating to a “neutral” rating and set a $12.97 price objective on the stock. in a report on Tuesday, July 11th. BidaskClub upgraded West Marine from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research downgraded West Marine from a “buy” rating to a “hold” rating in a research report on Wednesday, June 28th. TheStreet upgraded West Marine from a “c+” rating to a “b” rating in a research report on Thursday, April 27th. Finally, Forward View upgraded West Marine from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Five research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $9.99.
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West Marine (NASDAQ WMAR) opened at 12.91 on Thursday. The firm has a market cap of $324.91 million, a P/E ratio of 38.54 and a beta of 1.31. The stock’s 50 day moving average price is $11.38 and its 200 day moving average price is $10.12. West Marine has a 1-year low of $7.77 and a 1-year high of $12.93.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its position in West Marine by 7.2% in the fourth quarter. State Street Corp now owns 278,616 shares of the specialty retailer’s stock worth $2,916,000 after buying an additional 18,759 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of West Marine by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,097,189 shares of the specialty retailer’s stock worth $21,958,000 after buying an additional 5,265 shares during the period. Renaissance Technologies LLC raised its stake in shares of West Marine by 152.0% in the fourth quarter. Renaissance Technologies LLC now owns 289,301 shares of the specialty retailer’s stock worth $3,029,000 after buying an additional 174,501 shares during the period. Teachers Advisors LLC raised its stake in shares of West Marine by 8.1% in the fourth quarter. Teachers Advisors LLC now owns 34,502 shares of the specialty retailer’s stock worth $361,000 after buying an additional 2,583 shares during the period. Finally, First Manhattan Co. raised its stake in shares of West Marine by 1.2% in the first quarter. First Manhattan Co. now owns 166,100 shares of the specialty retailer’s stock worth $1,373,000 after buying an additional 2,000 shares during the period. 59.66% of the stock is owned by hedge funds and other institutional investors.
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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