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

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In the latest trading session, OneWater Marine (ONEW - Free Report) closed at $55.72, marking a +0.92% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 0.28%.

Heading into today, shares of the company had gained 6.14% over the past month, outpacing the Consumer Discretionary sector's loss of 1.36% and the S&P 500's gain of 0.22% 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 $1.07 per share, which would represent year-over-year growth of 50.7%. Our most recent consensus estimate is calling for quarterly revenue of $255.78 million, up 19.48% from the year-ago period.

ONEW's full-year Zacks Consensus Estimates are calling for earnings of $8.08 per share and revenue of $1.55 billion. These results would represent year-over-year changes of +16.09% and +26.44%, respectively.

Investors might also notice 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.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 1.41% higher. OneWater Marine is holding a Zacks Rank of #1 (Strong Buy) right now.

Looking at its valuation, OneWater Marine is holding a Forward P/E ratio of 6.84. This valuation marks a discount compared to its industry's average Forward P/E of 10.76.

The Leisure and Recreation Products industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 44, which puts it in the top 18% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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