OneWater Marine (NASDAQ:ONEW) Issues FY 2022 Earnings Guidance

OneWater Marine (NASDAQ:ONEW) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $7.200-$7.500 for the period, compared to the Thomson Reuters consensus EPS estimate of $6.890. The company issued revenue guidance of -.

Shares of ONEW stock traded down $0.97 during mid-day trading on Thursday, reaching $53.43. The stock had a trading volume of 29,366 shares, compared to its average volume of 83,835. The business has a fifty day moving average of $44.14. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.44. The company has a market cap of $803.53 million, a price-to-earnings ratio of 9.18 and a beta of 3.59. OneWater Marine has a 1-year low of $26.33 and a 1-year high of $56.78.

OneWater Marine (NASDAQ:ONEW) last issued its earnings results on Thursday, November 18th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.17. OneWater Marine had a return on equity of 34.54% and a net margin of 5.31%. During the same period in the prior year, the business earned $0.90 EPS. Analysts forecast that OneWater Marine will post 6.77 earnings per share for the current year.

A number of analysts have recently commented on ONEW shares. Zacks Investment Research upgraded OneWater Marine from a hold rating to a strong-buy rating and set a $63.00 target price on the stock in a research note on Wednesday. Truist upped their target price on OneWater Marine from $50.00 to $60.00 and gave the stock a buy rating in a research note on Friday, November 19th. Robert W. Baird upgraded OneWater Marine to an outperform rating and upped their target price for the stock from $60.00 to $70.00 in a research note on Friday, November 19th. KeyCorp increased their price target on OneWater Marine from $56.00 to $62.00 and gave the stock an overweight rating in a research report on Friday, November 19th. Finally, Truist Securities increased their price target on OneWater Marine from $50.00 to $60.00 and gave the stock a buy rating in a research report on Friday, November 19th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, OneWater Marine currently has a consensus rating of Buy and an average price target of $57.88.

In related news, Director Mitchell W. Legler sold 1,500 shares of the stock in a transaction that occurred on Wednesday, October 13th. The stock was sold at an average price of $41.82, for a total value of $62,730.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jack P. Ezzell sold 5,500 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $54.51, for a total value of $299,805.00. The disclosure for this sale can be found here. Insiders have sold 82,259 shares of company stock valued at $4,258,010 in the last three months. Insiders own 24.63% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in OneWater Marine by 4.6% in the third quarter. Bank of New York Mellon Corp now owns 65,556 shares of the company’s stock valued at $2,637,000 after purchasing an additional 2,881 shares during the period. Millennium Management LLC lifted its holdings in OneWater Marine by 4.1% during the 3rd quarter. Millennium Management LLC now owns 44,349 shares of the company’s stock worth $1,783,000 after buying an additional 1,752 shares during the last quarter. Royal Bank of Canada lifted its holdings in OneWater Marine by 5.2% during the 3rd quarter. Royal Bank of Canada now owns 5,579 shares of the company’s stock worth $225,000 after buying an additional 277 shares during the last quarter. Invesco Ltd. lifted its holdings in OneWater Marine by 12.7% during the 3rd quarter. Invesco Ltd. now owns 23,645 shares of the company’s stock worth $951,000 after buying an additional 2,667 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in OneWater Marine during the 3rd quarter worth about $1,102,000. Hedge funds and other institutional investors own 71.04% of the company’s stock.

About OneWater Marine

OneWater Marine Inc operates as a recreational boat retailer in the United States. It offers new and pre-owned recreational boats and yachts, as well as related marine products, such as parts and accessories. The company also provides boat repair and maintenance services; arranges boat financing and insurance; and other ancillary services, including indoor and outdoor storage, and marina, as well as rental of boats and personal watercraft.

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Earnings History and Estimates for OneWater Marine (NASDAQ:ONEW)

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