Marine Products Corp. (NYSE:MPX) – Equities research analysts at B. Riley lowered their Q2 2020 EPS estimates for Marine Products in a report released on Monday, March 23rd. B. Riley analyst E. Wold now expects that the company will post earnings of $0.18 per share for the quarter, down from their prior forecast of $0.29. B. Riley has a “Neutral” rating and a $8.00 price objective on the stock. B. Riley also issued estimates for Marine Products’ Q3 2020 earnings at $0.14 EPS and Q1 2021 earnings at $0.17 EPS.
Marine Products (NYSE:MPX) last announced its earnings results on Wednesday, January 29th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $48.18 million for the quarter, compared to the consensus estimate of $60.08 million.
A number of other research analysts have also recently issued reports on MPX. Zacks Investment Research raised shares of Marine Products from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. ValuEngine raised shares of Marine Products from a “sell” rating to a “hold” rating in a research note on Friday, February 21st.
Shares of MPX opened at $9.51 on Wednesday. Marine Products has a 12 month low of $6.77 and a 12 month high of $18.43. The firm’s 50 day moving average is $12.12 and its 200-day moving average is $13.91. The stock has a market capitalization of $290.49 million, a PE ratio of 11.60 and a beta of 0.60.
Large investors have recently made changes to their positions in the stock. Citigroup Inc. increased its stake in 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 acquiring an additional 875 shares during the last quarter. Marshall Wace LLP bought a new position in Marine Products in the fourth quarter valued at approximately $30,000. First Quadrant L P CA bought a new position in Marine Products in the fourth quarter valued at approximately $35,000. Barclays PLC increased its stake in Marine Products by 99.6% in the fourth quarter. Barclays PLC now owns 7,408 shares of the company’s stock valued at $106,000 after acquiring an additional 3,697 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in Marine Products in the fourth quarter valued at approximately $154,000. 13.93% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 10th were paid a $0.12 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.48 dividend on an annualized basis and a yield of 5.05%. Marine Products’s dividend payout ratio (DPR) is 57.83%.
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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