Marine Products (NYSE:MPX) Issues Earnings Results

Marine Products (NYSE:MPX) posted its quarterly earnings data on Thursday. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02, Zacks reports. Marine Products had a return on equity of 17.86% and a net margin of 9.04%. The company had revenue of $49.85 million during the quarter. During the same period in the previous year, the business posted $0.30 earnings per share.

Marine Products Stock Down 2.0 %

NYSE MPX traded down $0.19 during mid-day trading on Friday, hitting $9.40. The stock had a trading volume of 23,574 shares, compared to its average volume of 50,187. The company has a 50 day simple moving average of $9.49 and a 200 day simple moving average of $10.02. The company has a market cap of $326.02 million, a price-to-earnings ratio of 9.31 and a beta of 1.23. Marine Products has a 52-week low of $8.86 and a 52-week high of $12.47.

Marine Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.96%. The ex-dividend date of this dividend is Friday, November 8th. Marine Products’s payout ratio is currently 55.45%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their price objective on Marine Products from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Monday, August 12th.

About Marine Products

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.