MarineMax, Inc. (NYSE:HZO) – Investment analysts at SunTrust Banks reduced their Q1 2018 EPS estimates for MarineMax in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst M. Swartz now anticipates that the specialty retailer will earn $0.03 per share for the quarter, down from their previous estimate of $0.08. SunTrust Banks also issued estimates for MarineMax’s Q2 2018 earnings at $0.21 EPS, Q3 2018 earnings at $0.68 EPS, FY2018 earnings at $1.15 EPS and FY2019 earnings at $1.30 EPS.
A number of other equities research analysts have also recently commented on the company. B. Riley FBR, Inc. increased their target price on MarineMax from $19.75 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday. B. Riley set a $20.00 target price on MarineMax and gave the stock a “buy” rating in a research note on Wednesday. Craig Hallum set a $21.00 target price on MarineMax and gave the stock a “buy” rating in a research note on Tuesday. Forward View cut MarineMax from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Citigroup Inc. increased their target price on MarineMax from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. MarineMax currently has a consensus rating of “Buy” and an average price target of $21.75.
MarineMax (NYSE:HZO) last posted its quarterly earnings data on Tuesday, October 31st. The specialty retailer reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.11. The firm had revenue of $250.62 million for the quarter, compared to the consensus estimate of $231.96 million. MarineMax had a net margin of 2.24% and a return on equity of 7.82%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS.
Several institutional investors have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. boosted its position in shares of MarineMax by 4.6% during the second quarter. Eagle Asset Management Inc. now owns 3,330,527 shares of the specialty retailer’s stock valued at $65,111,000 after buying an additional 146,127 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of MarineMax by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,206,573 shares of the specialty retailer’s stock valued at $43,138,000 after buying an additional 9,452 shares during the last quarter. Impala Asset Management LLC boosted its position in shares of MarineMax by 18.6% during the second quarter. Impala Asset Management LLC now owns 1,795,759 shares of the specialty retailer’s stock valued at $35,107,000 after buying an additional 282,017 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of MarineMax by 4.1% during the second quarter. Vanguard Group Inc. now owns 1,349,327 shares of the specialty retailer’s stock valued at $26,380,000 after buying an additional 53,443 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of MarineMax by 51.7% during the third quarter. American Century Companies Inc. now owns 1,208,999 shares of the specialty retailer’s stock valued at $20,009,000 after buying an additional 412,038 shares during the last quarter. 90.57% of the stock is currently owned by institutional investors.
In related news, Director Dean S. Woodman sold 2,500 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $17.00, for a total transaction of $42,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dean S. Woodman sold 3,000 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $15.00, for a total value of $45,000.00. Following the sale, the director now directly owns 15,193 shares in the company, valued at $227,895. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,500 shares of company stock worth $167,500. Insiders own 5.00% of the company’s stock.
MarineMax announced that its board has approved a stock repurchase plan on Wednesday, August 2nd that allows the company to buyback 2,000,000 outstanding shares. This buyback authorization allows the specialty retailer to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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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