MarineMax Inc (HZO) Expected to Announce Quarterly Sales of $247.67 Million

Wall Street brokerages predict that MarineMax Inc (NYSE:HZO) will report $247.67 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for MarineMax’s earnings, with the highest sales estimate coming in at $261.00 million and the lowest estimate coming in at $214.90 million. MarineMax reported sales of $236.92 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, January 23rd.

On average, analysts expect that MarineMax will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $1.16 billion to $1.28 billion. For the next year, analysts anticipate that the business will post sales of $1.32 billion, with estimates ranging from $1.30 billion to $1.34 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for MarineMax.

MarineMax (NYSE:HZO) last issued its quarterly earnings results on Tuesday, October 30th. The specialty retailer reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.22. The firm had revenue of $308.59 million for the quarter, compared to analyst estimates of $273.60 million. MarineMax had a net margin of 3.34% and a return on equity of 11.97%. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS.

HZO has been the topic of a number of research analyst reports. Citigroup decreased their price target on shares of MarineMax from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, August 15th. Zacks Investment Research raised shares of MarineMax from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. Ifs Securities reaffirmed a “buy” rating and issued a $31.00 price objective on shares of MarineMax in a research note on Tuesday, October 30th. Craig Hallum set a $22.00 price objective on shares of MarineMax and gave the company a “hold” rating in a research note on Tuesday, October 30th. Finally, ValuEngine raised shares of MarineMax from a “hold” rating to a “buy” rating in a research note on Wednesday, October 31st. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. MarineMax has an average rating of “Buy” and a consensus price target of $27.00.

Shares of NYSE:HZO traded down $1.15 during trading on Wednesday, reaching $19.86. The company had a trading volume of 330,493 shares, compared to its average volume of 348,961. The firm has a market capitalization of $573.20 million, a price-to-earnings ratio of 11.68 and a beta of 0.91. MarineMax has a 12 month low of $16.40 and a 12 month high of $26.11.

In other news, insider William H. Mcgill, Jr. sold 8,525 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $26.06, for a total value of $222,161.50. Following the completion of the sale, the insider now owns 269,515 shares of the company’s stock, valued at approximately $7,023,560.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Allen Watters sold 2,500 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $21.17, for a total transaction of $52,925.00. Following the completion of the sale, the director now directly owns 62,413 shares of the company’s stock, valued at approximately $1,321,283.21. The disclosure for this sale can be found here. Insiders sold a total of 145,300 shares of company stock valued at $3,545,513 in the last ninety days. 5.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. purchased a new stake in MarineMax during the 3rd quarter valued at $105,000. SG Americas Securities LLC purchased a new stake in MarineMax during the 3rd quarter valued at $128,000. Trexquant Investment LP purchased a new stake in MarineMax during the 2nd quarter valued at $202,000. Globeflex Capital L P purchased a new stake in MarineMax during the 3rd quarter valued at $259,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in MarineMax during the 2nd quarter valued at $285,000. 91.21% of the stock is owned by institutional investors and hedge funds.

About MarineMax

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

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