This story originally appeared on Zacks

OneWater Marine (ONEW) closed at $60.40 in the latest trading session, marking a -0.93% move from the prior day. This change lagged the S&P 500’s daily gain of 0.64%. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 0.46%.

Heading into today, shares of the company had gained 20.52% over the past month, outpacing the Consumer Discretionary sector’s gain of 1% and the S&P 500’s gain of 4.56% in that time.

Wall Street will be looking for positivity from OneWater Marine as it approaches its next earnings report date. On that day, OneWater Marine is projected to report earnings of $1.19 per share, which would represent year-over-year growth of 67.61%. Our most recent consensus estimate is calling for quarterly revenue of $255.78 million, up 19.48% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.96 per share and revenue of $1.52 billion. These totals would mark changes of +14.37% and +24.05%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for OneWater Marine. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.47% higher. OneWater Marine currently has a Zacks Rank of #1 (Strong Buy).

Digging into valuation, OneWater Marine currently has a Forward P/E ratio of 7.66. This represents a discount compared to its industry’s average Forward P/E of 10.68.

The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 48, putting it in the top 19% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ONEW in the coming trading sessions, be sure to utilize Zacks.com.

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OneWater Marine Inc. (ONEW): Free Stock Analysis Report
 
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