Analysts Expect Marine Products Corp. (MPX) to Post $0.17 EPS

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Marine Products Corp. (NYSE:MPX) has received a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating. Marine Products’ rating score has declined by 20% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Brokers have set a 1 year consensus target price of $18.25 for the company and are predicting that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Marine Products an industry rank of 160 out of 255 based on the ratings given to related companies.

Several analysts have commented on the stock. Zacks Investment Research raised shares of Marine Products from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Saturday, January 12th. ValuEngine lowered shares of Marine Products from a “buy” rating to a “hold” rating in a research report on Tuesday, December 11th. Finally, B. Riley lifted their price objective on shares of Marine Products from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, October 25th.

A number of hedge funds have recently made changes to their positions in the business. Raymond James & Associates bought a new stake in Marine Products in the fourth quarter worth about $325,000. Bank of New York Mellon Corp raised its position in Marine Products by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 174,962 shares of the company’s stock worth $2,959,000 after acquiring an additional 5,111 shares during the period. BlackRock Inc. raised its position in Marine Products by 4.7% in the fourth quarter. BlackRock Inc. now owns 573,276 shares of the company’s stock worth $9,695,000 after acquiring an additional 25,861 shares during the period. Acadian Asset Management LLC raised its position in Marine Products by 58.6% in the fourth quarter. Acadian Asset Management LLC now owns 30,636 shares of the company’s stock worth $517,000 after acquiring an additional 11,325 shares during the period. Finally, Algert Global LLC raised its position in shares of 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 purchasing an additional 2,120 shares during the period. 14.11% of the stock is currently owned by institutional investors and hedge funds.

Marine Products stock traded down $0.24 during midday trading on Monday, hitting $13.48. 60,100 shares of the stock were exchanged, compared to its average volume of 61,918. Marine Products has a 52-week low of $13.19 and a 52-week high of $24.82. The stock has a market cap of $473.32 million, a PE ratio of 16.24 and a beta of 0.40.

Marine Products (NYSE:MPX) last released its quarterly 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). Marine Products had a return on equity of 37.32% and a net margin of 9.54%. The firm had revenue of $62.06 million for the quarter, compared to analysts’ expectations of $70.42 million. On average, equities analysts predict that Marine Products will post 0.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Monday, February 11th will be given a $0.12 dividend. This is a positive change from Marine Products’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, February 8th. This represents a $0.48 annualized dividend and a yield of 3.56%. Marine Products’s payout ratio is currently 48.19%.

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. It provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex Jet Boats, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.

Further Reading: Return on Equity (ROE)

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