Stock Alert: MarineMax Shares Hit 52-Week High

(RTTNews) - Shares of recreational boat and yacht retailer MarineMax Inc. (HZO) recorded a new 52-week high of $22.16 on Thursday, Jan. 23, following the company's updated fiscal 2020 guidance, and stellar Q1 results. Trading volume is currently rising above 519K versus an average volume of 212K.

FY2020 Guidance

For fiscal 2020, the company increased its earnings forecast to a range of $1.82 - $1.92 per share from the prior outlook range of $1.58 - $1.68 per share. Wall Street analysts estimate earnings of $1.63 per share for 2020.

Q1 Results

The company, today, reported first-quarter net income of $9.1 million or $0.41 per share versus $4.9 million or $0.21 per share in the prior-year quarter.

On average, 8 analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share for the quarter. Analysts' estimate typically exclude certain special items.

Revenue for the quarter increased 26% to $304.2 million from $241.9 million in the same quarter of last year. The Street was looking for revenues of $260.33 million. Same-store sales were up over 24%.