Equities analysts expect Marine Products Corp. (NYSE:MPX) to announce earnings of $0.19 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Marine Products’ earnings, with the lowest EPS estimate coming in at $0.18 and the highest estimate coming in at $0.20. Marine Products posted earnings of $0.15 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.7%. The business is expected to issue its next quarterly earnings results on Wednesday, January 23rd.
According to Zacks, analysts expect that Marine Products will report full-year earnings of $0.88 per share for the current year, with EPS estimates ranging from $0.87 to $0.88. For the next fiscal year, analysts forecast that the firm will post earnings of $0.89 per share, with EPS estimates ranging from $0.85 to $0.93. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Marine Products.
Marine Products (NYSE:MPX) last announced its quarterly earnings results on Wednesday, October 24th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Marine Products had a net margin of 8.97% and a return on equity of 38.58%. The business had revenue of $72.01 million during the quarter, compared to analysts’ expectations of $67.66 million.
Shares of MPX stock opened at $22.17 on Tuesday. The company has a market capitalization of $731.38 million, a P/E ratio of 25.24 and a beta of 0.47. Marine Products has a fifty-two week low of $12.00 and a fifty-two week high of $24.82.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, November 8th. Marine Products’s dividend payout ratio (DPR) is currently 66.67%.
Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. grew its holdings in shares of Marine Products by 508.3% in the second quarter. Macquarie Group Ltd. now owns 7,300 shares of the company’s stock valued at $130,000 after purchasing an additional 6,100 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Marine Products in the second quarter valued at approximately $203,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Marine Products by 82.8% in the third quarter. O Shaughnessy Asset Management LLC now owns 11,572 shares of the company’s stock valued at $265,000 after purchasing an additional 5,243 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Marine Products by 41.0% in the third quarter. Wells Fargo & Company MN now owns 17,595 shares of the company’s stock valued at $403,000 after purchasing an additional 5,118 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Marine Products by 42.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 42,020 shares of the company’s stock valued at $589,000 after purchasing an additional 12,604 shares in the last quarter. Hedge funds and other institutional investors own 14.41% of the company’s stock.
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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