Market News

Marine Max Stock (NYSE:HZO) Climbs 14% on Earnings and Revenue Beat

Shares of boat and yacht retailer, Marine Max (NYSE:HZO), are spiking today, as the stock is up more than 14%. This can be attributed to its earnings report for its fourth quarter of Fiscal Year 2022. Adjusted earnings per share came in at $1.90, which beat analysts’ consensus estimate of $1.25 per share.

Sales increased more than 16% year-over-year, with revenue hitting $536.8 million. This exceeded analysts’ expectations of $519 million.

Looking forward, management expects earnings per share to be between $7.90 to $8.40 for Fiscal Year 2023. For reference, the consensus was $7.70 per share.

Is HZO Stock a Buy?

HZO has a Moderate Buy consensus rating based on two Buys and two Holds assigned in the past three months. The average HZO stock price target of $46.50 implies 37.25% upside potential.

Disclosure

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