Marine Products (MPX) to Release Quarterly Earnings on Wednesday

Marine Products (NYSE:MPX) will issue its quarterly earnings data before the market opens on Wednesday, January 24th. Analysts expect the company to announce earnings of $0.14 per share for the quarter.

Marine Products (NYSE:MPX) last announced its earnings results on Wednesday, October 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.02). Marine Products had a return on equity of 28.42% and a net margin of 7.59%. The business had revenue of $59.20 million for the quarter, compared to analyst estimates of $67.86 million.

Marine Products (MPX) opened at $13.40 on Wednesday. Marine Products has a 52-week low of $9.88 and a 52-week high of $17.12. The stock has a market cap of $466.01, a P/E ratio of 23.93 and a beta of 0.31.

Several analysts recently issued reports on the stock. B. Riley reiterated a “hold” rating and set a $13.00 price target (up previously from $12.00) on shares of Marine Products in a research report on Thursday, October 26th. Zacks Investment Research lowered shares of Marine Products from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $15.50.

An institutional investor recently raised its position in Marine Products stock. State Street Corp increased its position in shares of Marine Products Corp. (NYSE:MPX) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,584 shares of the company’s stock after acquiring an additional 16,583 shares during the period. State Street Corp owned about 0.43% of Marine Products worth $2,335,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 15.02% of the company’s stock.

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Marine Products Company Profile

Marine Products Corporation manufactures fiberglass motorized boats distributed and marketed through its independent dealer network. The Company designs, manufactures and sells recreational fiberglass powerboats in the sportboat, deckboat, cruiser, jet boat and sport fishing markets. The Company’s product offerings include Chaparral sterndrive, outboard and jet pleasure boats, and Robalo outboard sport fishing boats.

Earnings History for Marine Products (NYSE:MPX)

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