Wedbush Comments on MarineMax, Inc.’s FY2017 Earnings (HZO)
MarineMax, Inc. (NYSE:HZO) – Equities researchers at Wedbush lowered their FY2017 earnings per share (EPS) estimates for shares of MarineMax in a report issued on Thursday. Wedbush analyst J. Hardiman now expects that the specialty retailer will post earnings per share of $0.91 for the year, down from their previous forecast of $0.97.
Other equities research analysts have also recently issued research reports about the company. Citigroup Inc. increased their price objective on MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, October 2nd. B. Riley reiterated a “buy” rating and issued a $19.75 price objective on shares of MarineMax in a report on Monday, September 25th. TheStreet cut MarineMax from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. BidaskClub cut MarineMax from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Ifs Securities reiterated a “strong-buy” rating and issued a $20.00 price objective on shares of MarineMax in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.79.
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MarineMax (NYSE HZO) opened at 17.00 on Monday. The company has a 50 day moving average price of $16.27 and a 200-day moving average price of $17.79. MarineMax has a 1-year low of $13.80 and a 1-year high of $23.65. The firm has a market capitalization of $412.69 million, a price-to-earnings ratio of 17.00 and a beta of 0.97.
MarineMax (NYSE:HZO) last posted its quarterly earnings data on Thursday, July 20th. The specialty retailer reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.11). The company had revenue of $329.80 million during the quarter, compared to analyst estimates of $383.01 million. MarineMax had a return on equity of 7.53% and a net margin of 2.45%. MarineMax’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share.
MarineMax declared that its board has approved a share buyback plan on Wednesday, August 2nd that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the specialty retailer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other news, Director Dean S. Woodman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.00, for a total value of $45,000.00. Following the completion of the transaction, the director now owns 15,193 shares in the company, valued at approximately $227,895. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dean S. Woodman sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $17.00, for a total value of $42,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,500 shares of company stock valued at $167,500. 5.00% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its stake in shares of MarineMax by 12.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the specialty retailer’s stock valued at $101,000 after purchasing an additional 498 shares during the period. Mason Street Advisors LLC lifted its stake in shares of MarineMax by 5.2% in the 1st quarter. Mason Street Advisors LLC now owns 5,676 shares of the specialty retailer’s stock valued at $123,000 after purchasing an additional 282 shares during the period. Municipal Employees Retirement System of Michigan lifted its stake in shares of 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. UBS Group AG lifted its stake in shares of MarineMax by 175.7% in the 1st quarter. UBS Group AG now owns 9,697 shares of the specialty retailer’s stock valued at $210,000 after purchasing an additional 6,180 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of 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. Institutional investors own 90.57% of the company’s stock.
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.
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