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OneWater Marine (ONEW) Stock Sinks As Market Gains: What You Should Know

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In the latest trading session, OneWater Marine (ONEW - Free Report) closed at $40.19, marking a -0.57% move from the previous day. This move lagged the S&P 500's daily gain of 2.14%. Elsewhere, the Dow gained 1.82%, while the tech-heavy Nasdaq lost 0.01%.

Coming into today, shares of the company had lost 18.67% in the past month. In that same time, the Consumer Discretionary sector lost 12.05%, while the S&P 500 lost 5.01%.

OneWater Marine will be looking to display strength as it nears its next earnings release. On that day, OneWater Marine is projected to report earnings of $2.06 per share, which would represent year-over-year growth of 12.57%. Our most recent consensus estimate is calling for quarterly revenue of $407.6 million, up 23.66% from the year-ago period.

ONEW's full-year Zacks Consensus Estimates are calling for earnings of $8.32 per share and revenue of $1.69 billion. These results would represent year-over-year changes of +19.54% and +37.89%, respectively.

It is also important to note the recent changes to analyst estimates for OneWater Marine. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. OneWater Marine currently has a Zacks Rank of #2 (Buy).

Looking at its valuation, OneWater Marine is holding a Forward P/E ratio of 4.86. This represents a discount compared to its industry's average Forward P/E of 8.79.

The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 157, putting it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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