Equities analysts forecast that Marine Products Corp. (NYSE:MPX) will announce $72.82 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Marine Products’ earnings. The lowest sales estimate is $72.01 million and the highest is $73.62 million. Marine Products reported sales of $72.01 million in the same quarter last year, which suggests a positive year over year growth rate of 1.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Marine Products will report full year sales of $312.98 million for the current fiscal year, with estimates ranging from $308.93 million to $317.03 million. For the next fiscal year, analysts forecast that the firm will report sales of $332.71 million, with estimates ranging from $324.37 million to $341.04 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Marine Products.
Marine Products (NYSE:MPX) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.06. The business had revenue of $88.70 million for the quarter, compared to analysts’ expectations of $81.16 million. Marine Products had a net margin of 9.39% and a return on equity of 37.19%.
A number of equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Marine Products from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Ifs Securities reiterated an “outperform” rating on shares of Marine Products in a report on Thursday, April 25th. Finally, Zacks Investment Research upgraded shares of Marine Products from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Saturday, July 27th.
MPX traded up $0.27 during midday trading on Friday, reaching $14.64. The company’s stock had a trading volume of 24,400 shares, compared to its average volume of 31,996. The firm has a market capitalization of $489.24 million, a price-to-earnings ratio of 17.64 and a beta of 0.52. Marine Products has a 1 year low of $12.48 and a 1 year high of $24.82. The stock’s 50-day moving average is $14.86 and its 200-day moving average is $14.51.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 3.28%. Marine Products’s dividend payout ratio (DPR) is 57.83%.
A number of institutional investors have recently modified their holdings of MPX. Stanley Laman Group Ltd. bought a new position in Marine Products in the first quarter worth approximately $236,000. Raymond James & Associates bought a new stake in shares of Marine Products during the 4th quarter valued at $325,000. Dimensional Fund Advisors LP raised its position in shares of Marine Products by 3.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 657,635 shares of the company’s stock valued at $11,121,000 after purchasing an additional 21,011 shares during the period. Denali Advisors LLC raised its position in shares of Marine Products by 4,129.5% during the 1st quarter. Denali Advisors LLC now owns 12,181 shares of the company’s stock valued at $164,000 after purchasing an additional 11,893 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Marine Products by 3.0% during the 4th quarter. Bank of New York Mellon Corp now owns 174,962 shares of the company’s stock valued at $2,959,000 after purchasing an additional 5,111 shares during the period. Institutional investors own 14.50% of the company’s stock.
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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