OneWater Marine (NASDAQ:ONEW) Releases Quarterly Earnings Results, Misses Expectations By $1.01 EPS

OneWater Marine (NASDAQ:ONEW) released its quarterly earnings data on Tuesday. The company reported $1.05 EPS for the quarter, missing the consensus estimate of $2.06 by ($1.01), Zacks reports. OneWater Marine had a negative net margin of 4.29% and a positive return on equity of 9.20%. The business had revenue of $542.44 million for the quarter, compared to analysts’ expectations of $600.20 million. During the same period last year, the business earned $1.95 earnings per share. OneWater Marine updated its FY 2024 guidance to 1.500-2.000 EPS.

OneWater Marine Stock Performance

Shares of OneWater Marine stock traded down $0.77 during trading hours on Wednesday, reaching $24.96. 21,456 shares of the stock traded hands, compared to its average volume of 91,862. The company has a 50 day moving average price of $27.35 and a 200 day moving average price of $26.23. The firm has a market capitalization of $399.86 million, a price-to-earnings ratio of -4.51 and a beta of 2.58. OneWater Marine has a one year low of $20.07 and a one year high of $38.21. The company has a quick ratio of 0.30, a current ratio of 1.21 and a debt-to-equity ratio of 1.07.

Analyst Upgrades and Downgrades

ONEW has been the topic of several recent analyst reports. KeyCorp dropped their price objective on OneWater Marine from $34.00 to $30.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Benchmark reaffirmed a “hold” rating on shares of OneWater Marine in a research report on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.60.

About OneWater Marine

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