West Marine, Inc. (WMAR) Expected to Post Quarterly Sales of $194.69 Million
Equities research analysts forecast that West Marine, Inc. (NASDAQ:WMAR) will post $194.69 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for West Marine’s earnings. The lowest sales estimate is $193.48 million and the highest is $195.90 million. West Marine posted sales of $191.85 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.5%. The firm is scheduled to report its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that West Marine will report full year sales of $194.69 million for the current financial year, with estimates ranging from $708.50 million to $711.44 million. For the next fiscal year, analysts forecast that the company will post sales of $724.85 million per share, with estimates ranging from $715.70 million to $734.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover West Marine.
WMAR has been the subject of a number of recent analyst reports. Zacks Investment Research lowered West Marine from a “buy” rating to a “hold” rating in a report on Wednesday, June 28th. TheStreet raised West Marine from a “c+” rating to a “b” rating in a report on Thursday, April 27th. BidaskClub raised West Marine from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Forward View raised West Marine from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Finally, B. Riley lowered West Marine to a “neutral” rating and set a $12.97 target price for the company. in a report on Sunday, July 16th. Five investment analysts have rated the stock with a hold rating, West Marine presently has a consensus rating of “Hold” and an average price target of $9.99.
Shares of West Marine (NASDAQ WMAR) opened at 12.91 on Wednesday. West Marine has a 52-week low of $7.77 and a 52-week high of $13.01. The company’s 50-day moving average is $12.60 and its 200 day moving average is $10.44. The company has a market cap of $326.35 million, a PE ratio of 40.85 and a beta of 1.31.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AXA raised its position in West Marine by 30.1% in the first quarter. AXA now owns 96,788 shares of the specialty retailer’s stock worth $923,000 after buying an additional 22,415 shares during the last quarter. State Street Corp raised 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. Oxford Asset Management bought a new position in West Marine during the first quarter worth $539,000. B. Riley Financial Inc. acquired a new position in shares of West Marine during the first quarter valued at approximately $544,000. Finally, Hancock Holding Co. acquired a new position in shares of West Marine during the first quarter valued at approximately $186,000. 60.72% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This report was originally reported by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/16/west-marine-inc-wmar-expected-to-post-quarterly-sales-of-194-69-million.html.
About West Marine
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for West Marine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for West Marine Inc. and related companies with MarketBeat.com's FREE daily email newsletter.