MarineMax, Inc. (NYSE:HZO) – Investment analysts at SunTrust Banks reduced their FY2017 earnings per share (EPS) estimates for shares of MarineMax in a report released on Wednesday. SunTrust Banks analyst M. Swartz now forecasts that the specialty retailer will post earnings of $0.90 per share for the year, down from their prior forecast of $0.98. SunTrust Banks also issued estimates for MarineMax’s Q4 2017 earnings at $0.12 EPS, Q1 2018 earnings at $0.08 EPS, Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.63 EPS and Q4 2018 earnings at $0.23 EPS.

Other analysts also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective on shares of MarineMax in a research report on Friday, July 21st. Ifs Securities reaffirmed a “strong-buy” rating and set a $20.00 price objective on shares of MarineMax in a research report on Thursday, August 24th. TheStreet downgraded shares of MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Zacks Investment Research downgraded shares of MarineMax from a “hold” rating to a “sell” rating in a research report on Friday, June 30th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $25.00 price objective (down previously from $26.00) on shares of MarineMax in a research report on Monday, May 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.86.

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Shares of MarineMax (HZO) opened at 15.40 on Friday. The company has a 50 day moving average of $15.38 and a 200 day moving average of $19.06. The stock has a market cap of $373.85 million, a P/E ratio of 15.40 and a beta of 1.00. MarineMax has a 12 month low of $13.80 and a 12 month high of $23.65.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by $0.11. The firm had revenue of $329.80 million during the quarter, compared to analysts’ expectations of $383.01 million. MarineMax had a net margin of 2.45% and a return on equity of 7.53%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS.

MarineMax announced that its board has initiated a stock repurchase plan on Wednesday, August 2nd that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows the specialty retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

In related news, Director Dean S. Woodman sold 2,500 shares of MarineMax stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $16.00, for a total value of $40,000.00. Following the completion of the sale, the director now owns 14,693 shares of the company’s stock, valued at approximately $235,088. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of MarineMax stock in a transaction on Monday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $45,000.00. Following the completion of the sale, the director now directly owns 15,193 shares of the company’s stock, valued at approximately $227,895. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Alps Advisors Inc. grew its position in MarineMax by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 21,619 shares of the specialty retailer’s stock valued at $423,000 after purchasing an additional 56 shares during the period. Arizona State Retirement System grew its position in MarineMax by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 12,722 shares of the specialty retailer’s stock valued at $249,000 after purchasing an additional 100 shares during the period. Legal & General Group Plc grew its position in MarineMax by 0.3% in the 1st quarter. Legal & General Group Plc now owns 40,772 shares of the specialty retailer’s stock valued at $882,000 after purchasing an additional 105 shares during the period. Texas Permanent School Fund grew its position in MarineMax by 1.2% in the 2nd quarter. Texas Permanent School Fund now owns 17,779 shares of the specialty retailer’s stock valued at $348,000 after purchasing an additional 205 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its position in MarineMax by 2.8% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,880 shares of the specialty retailer’s stock valued at $192,000 after purchasing an additional 240 shares during the period. 90.57% of the stock is owned by institutional investors and hedge funds.

About MarineMax

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.

Earnings History and Estimates for MarineMax (NYSE:HZO)

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