We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
OneWater Marine (ONEW) Surges 5.0%: Is This an Indication of Further Gains?
Read MoreHide Full Article
OneWater Marine (ONEW - Free Report) shares ended the last trading session 5% higher at $11.33. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.8% gain over the past four weeks.
Shares of OneWater Marine moved higher following a sharp decline in global oil prices, driven by easing geopolitical tensions and progress in international peace negotiations. For a major marine retailer, lower oil prices provide a dual benefit by reducing freight and inventory logistics costs while lowering boat ownership expenses for consumers. Together, these factors can support demand for recreational boating products and services.
This company is expected to post quarterly earnings of $0.94 per share in its upcoming report, which represents a year-over-year change of +19%. Revenues are expected to be $554.5 million, up 0.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For OneWater Marine, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ONEW going forward to see if this recent jump can turn into more strength down the road.
OneWater Marine is a member of the Zacks Leisure and Recreation Products industry. One other stock in the same industry, Clarus Corporation (CLAR - Free Report) , finished the last trading session 0.3% higher at $3.13. CLAR has returned 4.7% over the past month.
Clarus' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. Compared to the company's year-ago EPS, this represents a change of -66.7%. Clarus currently boasts a Zacks Rank of #4 (Sell).
View the Zacks #1 Rank List
Image: Bigstock
OneWater Marine (ONEW) Surges 5.0%: Is This an Indication of Further Gains?
OneWater Marine (ONEW - Free Report) shares ended the last trading session 5% higher at $11.33. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 5.8% gain over the past four weeks.
Shares of OneWater Marine moved higher following a sharp decline in global oil prices, driven by easing geopolitical tensions and progress in international peace negotiations. For a major marine retailer, lower oil prices provide a dual benefit by reducing freight and inventory logistics costs while lowering boat ownership expenses for consumers. Together, these factors can support demand for recreational boating products and services.
This company is expected to post quarterly earnings of $0.94 per share in its upcoming report, which represents a year-over-year change of +19%. Revenues are expected to be $554.5 million, up 0.3% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For OneWater Marine, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on ONEW going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
OneWater Marine is a member of the Zacks Leisure and Recreation Products industry. One other stock in the same industry, Clarus Corporation (CLAR - Free Report) , finished the last trading session 0.3% higher at $3.13. CLAR has returned 4.7% over the past month.
Clarus' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.05. Compared to the company's year-ago EPS, this represents a change of -66.7%. Clarus currently boasts a Zacks Rank of #4 (Sell).