Zacks: Brokerages Anticipate MarineMax Inc (NYSE:HZO) Will Post Quarterly Sales of $324.97 Million

Equities research analysts expect MarineMax Inc (NYSE:HZO) to announce sales of $324.97 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for MarineMax’s earnings, with estimates ranging from $316.90 million to $334.40 million. MarineMax posted sales of $308.14 million during the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The company is expected to announce its next earnings report on Tuesday, November 3rd.

According to Zacks, analysts expect that MarineMax will report full-year sales of $1.44 billion for the current financial year, with estimates ranging from $1.43 billion to $1.45 billion. For the next financial year, analysts anticipate that the company will report sales of $1.43 billion, with estimates ranging from $1.34 billion to $1.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow MarineMax.

MarineMax (NYSE:HZO) last posted its quarterly earnings results on Thursday, July 23rd. The specialty retailer reported $1.58 EPS for the quarter, topping the consensus estimate of $0.72 by $0.86. MarineMax had a net margin of 3.93% and a return on equity of 14.68%. The firm had revenue of $498.30 million for the quarter, compared to the consensus estimate of $414.69 million. During the same period last year, the firm posted $0.84 earnings per share. The business’s revenue was up 29.9% compared to the same quarter last year.

A number of research analysts recently issued reports on the company. Northcoast Research reiterated a “buy” rating on shares of MarineMax in a research note on Wednesday, July 22nd. Zacks Investment Research downgraded MarineMax from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 23rd. ValuEngine raised MarineMax from a “strong sell” rating to a “sell” rating in a research report on Tuesday, September 22nd. B. Riley reaffirmed a “buy” rating and set a $28.00 price objective on shares of MarineMax in a research report on Wednesday, July 1st. Finally, Craig Hallum increased their price target on MarineMax from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. MarineMax currently has a consensus rating of “Buy” and a consensus price target of $25.08.

MarineMax stock traded up $0.79 on Monday, hitting $26.46. 481,758 shares of the stock traded hands, compared to its average volume of 329,910. MarineMax has a 1 year low of $7.24 and a 1 year high of $34.06. The business’s fifty day simple moving average is $28.15 and its 200 day simple moving average is $20.72. The firm has a market cap of $555.19 million, a P/E ratio of 10.49 and a beta of 1.91.

In other MarineMax news, CFO Michael H. Mclamb sold 7,943 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $24.52, for a total transaction of $194,762.36. Following the completion of the sale, the chief financial officer now directly owns 107,840 shares of the company’s stock, valued at approximately $2,644,236.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman William H. Mcgill, Jr. sold 10,322 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $30.07, for a total value of $310,382.54. Following the sale, the chairman now directly owns 319,093 shares of the company’s stock, valued at $9,595,126.51. The disclosure for this sale can be found here. Over the last three months, insiders sold 113,335 shares of company stock valued at $3,191,601. Insiders own 4.80% of the company’s stock.

Large investors have recently made changes to their positions in the business. State Street Corp grew its holdings in MarineMax by 10.6% during the 1st quarter. State Street Corp now owns 787,188 shares of the specialty retailer’s stock valued at $8,202,000 after buying an additional 75,570 shares during the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in MarineMax in the second quarter valued at about $2,011,000. Jane Street Group LLC purchased a new position in MarineMax in the second quarter valued at about $313,000. JPMorgan Chase & Co. raised its position in MarineMax by 96.9% in the first quarter. JPMorgan Chase & Co. now owns 138,095 shares of the specialty retailer’s stock valued at $1,439,000 after purchasing an additional 67,962 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of MarineMax by 825.0% during the first quarter. BNP Paribas Arbitrage SA now owns 44,151 shares of the specialty retailer’s stock worth $460,000 after acquiring an additional 39,378 shares during the last quarter.

MarineMax Company Profile

MarineMax, Inc operates as a recreational boat and yacht retailer in the United States. The company sells new and used recreational boats, including pleasure boats, such as sport boats, sport cruisers, sport yachts, and other yachts; fishing boats; motor and convertible yachts; pontoon boats; fishing boats; ski boats; and jet boats.

See Also: What does a hold rating mean?

Get a free copy of the Zacks research report on MarineMax (HZO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MarineMax (NYSE:HZO)

Receive News & Ratings for MarineMax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MarineMax and related companies with MarketBeat.com's FREE daily email newsletter.