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Stock Alert: MarineMax Shares Hit 52-Week High

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 573K versus an average volume of 212K. The stock is currently trading at $21.45, up $4.02 or 23.06%.

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%.

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