Research Analysts Offer Predictions for Marine Products Corp.’s FY2020 Earnings (NYSE:MPX)
Marine Products Corp. (NYSE:MPX) – Research analysts at B. Riley dropped their FY2020 earnings per share estimates for shares of Marine Products in a research report issued on Monday, March 23rd. B. Riley analyst E. Wold now anticipates that the company will post earnings per share of $0.61 for the year, down from their prior estimate of $0.87. B. Riley has a “Neutral” rating and a $8.00 price objective on the stock. B. Riley also issued estimates for Marine Products’ Q4 2020 earnings at $0.07 EPS, Q2 2021 earnings at $0.17 EPS, Q3 2021 earnings at $0.12 EPS, Q4 2021 earnings at $0.06 EPS and FY2021 earnings at $0.51 EPS.
Marine Products (NYSE:MPX) last posted its quarterly earnings data on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.02). Marine Products had a return on equity of 36.13% and a net margin of 9.67%. The firm had revenue of $48.18 million for the quarter, compared to analyst estimates of $60.08 million.
MPX opened at $8.49 on Thursday. Marine Products has a 12 month low of $6.77 and a 12 month high of $18.43. The company has a fifty day simple moving average of $12.12 and a 200 day simple moving average of $13.91. The stock has a market cap of $290.49 million, a P/E ratio of 10.35 and a beta of 0.60.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Friday, February 7th. Marine Products’s payout ratio is 57.83%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Marine Products by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 94,125 shares of the company’s stock valued at $1,355,000 after acquiring an additional 1,592 shares in the last quarter. Zebra Capital Management LLC raised its position in shares of Marine Products by 15.2% in the fourth quarter. Zebra Capital Management LLC now owns 17,649 shares of the company’s stock valued at $254,000 after buying an additional 2,327 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Marine Products in the fourth quarter valued at approximately $30,000. Goldman Sachs Group Inc. acquired a new stake in shares of Marine Products in the fourth quarter valued at approximately $154,000. Finally, Citigroup Inc. raised its position in shares of Marine Products by 74.3% in the fourth quarter. Citigroup Inc. now owns 2,053 shares of the company’s stock valued at $30,000 after buying an additional 875 shares in the last quarter. Institutional investors own 13.93% of the company’s stock.
About Marine Products
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. The company provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex jet boats and the Surf Series, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.
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