MarineMax Climbs 7% On Earnings Beat (HZO)

Shares of MarineMax, Inc. HZO are currently up 7.2% at $7.79 per share during Thursday afternoon trading. Today's trading range for shares of MarineMax, Inc has been between $7.29 and $7.95 per share. The consensus price target of analysts covering the company's stock is $9 per share. Volume of 167,000 shares is above the daily average volume of 135,000 shares. MarineMax, Inc. (HZO) released financial results early Thursday morning that easily beat Wall Street estimates. MarineMax, Inc reported a smaller than expected 4th quarter loss of 8 cents per share, on revenue of $124.4 million. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of an expected loss of 15 cents per share, on revenue of $112.17 million. Chairman, president, and chief executive officer William H. McGill, Jr. said, “Our fourth quarter results reflect the challenging conditions that continue to pressure the boating industry. Nonetheless, we believe our retailing strategies have allowed us to increase our market share and our financial position remains strong. We recently enhanced our flexibility through the addition of a new $30 million financing facility following the successful completion of the $100 million credit facility we closed in our third quarter. The actions that we have taken to improve our inventory aging, reduce inventory levels, and reduce our expenses while continuing to enhance our customer service positions us well when industry conditions begin to improve.” Read more from Benzinga's Company news.