Marine Products Corp. (NYSE:MPX) – Equities research analysts at B. Riley reduced their FY2020 earnings per share estimates for Marine Products in a report issued on Monday, March 23rd. B. Riley analyst E. Wold now anticipates that the company will post earnings of $0.61 per share for the year, down from their prior estimate of $0.87. B. Riley has a “Neutral” rating and a $8.00 price objective on the stock. B. Riley also issued estimates for Marine Products’ Q4 2020 earnings at $0.07 EPS, Q2 2021 earnings at $0.17 EPS, Q3 2021 earnings at $0.12 EPS, Q4 2021 earnings at $0.06 EPS and FY2021 earnings at $0.51 EPS.
Other equities research analysts also recently issued reports about the stock. ValuEngine upgraded shares of Marine Products from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Zacks Investment Research upgraded shares of Marine Products from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th.
Shares of NYSE:MPX opened at $9.51 on Thursday. Marine Products has a 52-week low of $6.77 and a 52-week high of $18.43. The company has a market capitalization of $290.49 million, a P/E ratio of 11.60 and a beta of 0.60. The company has a 50-day simple moving average of $12.12 and a 200 day simple moving average of $13.91.
Marine Products (NYSE:MPX) last issued its earnings results on Wednesday, January 29th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.02). Marine Products had a net margin of 9.67% and a return on equity of 36.13%. The firm had revenue of $48.18 million during the quarter, compared to analyst estimates of $60.08 million.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Monday, February 10th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.48 annualized dividend and a yield of 5.05%. Marine Products’s dividend payout ratio (DPR) is currently 57.83%.
A number of large investors have recently modified their holdings of MPX. Marshall Wace LLP acquired a new stake in Marine Products in the 4th quarter valued at about $30,000. Citigroup Inc. lifted its stake in Marine Products by 74.3% in the 4th quarter. Citigroup Inc. now owns 2,053 shares of the company’s stock valued at $30,000 after purchasing an additional 875 shares during the last quarter. First Quadrant L P CA acquired a new stake in Marine Products during the fourth quarter worth approximately $35,000. Barclays PLC lifted its position in Marine Products by 99.6% during the fourth quarter. Barclays PLC now owns 7,408 shares of the company’s stock worth $106,000 after acquiring an additional 3,697 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in Marine Products during the fourth quarter worth approximately $154,000. Institutional investors and hedge funds own 13.93% 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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