Wedbush Weighs in on MarineMax, Inc.’s Q1 2018 Earnings (HZO)
MarineMax, Inc. (NYSE:HZO) – Research analysts at Wedbush issued their Q1 2018 earnings estimates for shares of MarineMax in a note issued to investors on Wednesday. Wedbush analyst J. Hardiman anticipates that the specialty retailer will earn $0.03 per share for the quarter. Wedbush also issued estimates for MarineMax’s Q2 2018 earnings at $0.11 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.35 EPS and FY2019 earnings at $1.35 EPS.
Other analysts have also recently issued research reports about the company. B. Riley reaffirmed a “buy” rating and set a $20.00 price target on shares of MarineMax in a research report on Friday, July 21st. B. Riley FBR, Inc. lifted their price target on MarineMax from $19.75 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday. Ifs Securities reaffirmed a “strong-buy” rating and set a $20.00 price target on shares of MarineMax in a research report on Thursday, August 24th. TheStreet cut MarineMax from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Finally, Forward View cut MarineMax from a “buy” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. MarineMax currently has an average rating of “Buy” and a consensus target price of $21.75.
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MarineMax (NYSE:HZO) last posted its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11. The company had revenue of $250.62 million during the quarter, compared to analysts’ expectations of $231.96 million. MarineMax had a return on equity of 7.82% and a net margin of 2.24%. MarineMax’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 earnings per share.
MarineMax declared that its Board of Directors has authorized a stock buyback 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. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Dean S. Woodman sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $16.00, for a total value of $40,000.00. Following the completion of the transaction, the director now owns 14,693 shares of the company’s stock, valued at approximately $235,088. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dean S. Woodman sold 3,000 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were 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 directly owns 15,193 shares of the company’s stock, valued at approximately $227,895. The disclosure for this sale can be found here. In the last three months, insiders sold 10,500 shares of company stock valued at $167,500. Insiders own 5.00% of the company’s stock.
Several hedge funds have recently modified their holdings of HZO. Ameriprise Financial Inc. lifted its holdings in shares of MarineMax by 3.7% in the 1st quarter. Ameriprise Financial Inc. now owns 129,786 shares of the specialty retailer’s stock valued at $2,810,000 after buying an additional 4,581 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of MarineMax by 9.1% in the 1st quarter. Parametric Portfolio Associates LLC now owns 60,649 shares of the specialty retailer’s stock valued at $1,313,000 after buying an additional 5,064 shares during the period. JPMorgan Chase & Co. increased its stake in shares of MarineMax by 75.6% in the 1st quarter. JPMorgan Chase & Co. now owns 42,767 shares of the specialty retailer’s stock valued at $926,000 after purchasing an additional 18,415 shares in the last quarter. Municipal Employees Retirement System of Michigan increased 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 in the last quarter. Finally, OppenheimerFunds Inc. increased its stake in shares of MarineMax by 11.0% in the 1st quarter. OppenheimerFunds Inc. now owns 32,966 shares of the specialty retailer’s stock valued at $713,000 after purchasing an additional 3,265 shares in the last quarter. 90.57% of the stock is owned by institutional investors and hedge funds.
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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