Equities analysts forecast that Marine Products Corp. (NYSE:MPX) will report $73.18 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Marine Products’ earnings. The highest sales estimate is $73.66 million and the lowest is $72.71 million. Marine Products reported sales of $77.54 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 5.6%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, April 24th.
On average, analysts expect that Marine Products will report full year sales of $296.89 million for the current year, with estimates ranging from $295.23 million to $298.55 million. For the next year, analysts forecast that the firm will report sales of $319.41 million, with estimates ranging from $309.99 million to $328.83 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Marine Products.
Marine Products (NYSE:MPX) last released its earnings results on Wednesday, January 23rd. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $62.06 million during the quarter, compared to analyst estimates of $70.42 million. Marine Products had a net margin of 9.54% and a return on equity of 37.46%.
Hedge funds have recently bought and sold shares of the stock. Strs Ohio lifted its stake in Marine Products by 213.0% during the fourth quarter. Strs Ohio now owns 7,200 shares of the company’s stock worth $121,000 after purchasing an additional 4,900 shares during the last quarter. Denali Advisors LLC lifted its stake in Marine Products by 4,129.5% in the first quarter. Denali Advisors LLC now owns 12,181 shares of the company’s stock valued at $164,000 after buying an additional 11,893 shares during the last quarter. Rhumbline Advisers purchased a new stake in Marine Products in the fourth quarter valued at approximately $193,000. Navellier & Associates Inc lifted its stake in Marine Products by 11.8% in the fourth quarter. Navellier & Associates Inc now owns 14,647 shares of the company’s stock valued at $248,000 after buying an additional 1,547 shares during the last quarter. Finally, Algert Global LLC lifted its stake in Marine Products by 13.8% in the fourth quarter. Algert Global LLC now owns 17,485 shares of the company’s stock valued at $296,000 after buying an additional 2,120 shares during the last quarter. Hedge funds and other institutional investors own 14.61% of the company’s stock.
Shares of MPX traded up $0.16 during midday trading on Thursday, hitting $13.86. The company had a trading volume of 19,942 shares, compared to its average volume of 19,186. The stock has a market capitalization of $473.94 million, a PE ratio of 16.70 and a beta of 0.36. Marine Products has a 1 year low of $12.48 and a 1 year high of $24.82.
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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