Marine Products Corp. (MPX) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Marine Products Corp. (NYSE:MPX) have earned a consensus broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has assigned a buy recommendation to the company.
Brokers have set a one year consensus price objective of $22.75 for the company and are anticipating that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Marine Products an industry rank of 34 out of 257 based on the ratings given to related companies.
Several equities analysts have recently issued reports on the company. B. Riley lifted their price target on Marine Products from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, October 25th. Zacks Investment Research raised Marine Products from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Saturday, July 28th.
Shares of MPX traded down $1.13 during trading hours on Friday, hitting $21.04. The company had a trading volume of 41,143 shares, compared to its average volume of 40,958. The firm has a market cap of $741.38 million, a PE ratio of 35.07 and a beta of 0.47. Marine Products has a 52-week low of $12.00 and a 52-week high of $24.82.
Marine Products (NYSE:MPX) last posted its quarterly earnings results on Wednesday, October 24th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The firm had revenue of $72.01 million during the quarter, compared to analyst estimates of $67.66 million. Marine Products had a return on equity of 38.58% and a net margin of 8.97%. As a group, equities analysts anticipate that Marine Products will post 0.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, November 8th. Marine Products’s dividend payout ratio is presently 66.67%.
Marine Products Company Profile
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. It provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex Jet Boats, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.
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