Shares of Marine Products Corp. (NYSE:MPX) have earned a consensus broker rating score of 2.50 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has issued a buy recommendation on the company. Marine Products’ rating score has improved by 16.7% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Analysts have set a 1-year consensus price target of $18.25 for the company and are predicting that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also assigned Marine Products an industry rank of 29 out of 256 based on the ratings given to related companies.
Several brokerages have recently issued reports on MPX. B. Riley set a $15.00 price target on shares of Marine Products and gave the stock a “hold” rating in a report on Wednesday, April 17th. ValuEngine upgraded shares of Marine Products from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of Marine Products from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a report on Saturday, April 27th. Finally, Ifs Securities reiterated an “outperform” rating on shares of Marine Products in a report on Thursday, April 25th.
Marine Products (NYSE:MPX) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. The company had revenue of $83.05 million during the quarter, compared to the consensus estimate of $73.18 million. Marine Products had a net margin of 9.32% and a return on equity of 36.92%. On average, equities research analysts expect that Marine Products will post 0.81 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.48 annualized dividend and a dividend yield of 3.46%. Marine Products’s dividend payout ratio (DPR) is presently 57.83%.
Large investors have recently made changes to their positions in the company. Strs Ohio increased its holdings in shares of 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 buying an additional 4,900 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Marine Products by 499.6% in the 1st quarter. JPMorgan Chase & Co. now owns 11,518 shares of the company’s stock worth $155,000 after acquiring an additional 9,597 shares during the last quarter. Denali Advisors LLC lifted its holdings in shares of Marine Products by 4,129.5% in the 1st quarter. Denali Advisors LLC now owns 12,181 shares of the company’s stock worth $164,000 after acquiring an additional 11,893 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Marine Products in the 4th quarter worth about $193,000. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Marine Products in the 1st quarter worth about $236,000. Institutional investors own 14.65% 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. 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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