$0.17 EPS Expected for Marine Products Corp. (MPX) This Quarter
Wall Street analysts expect that Marine Products Corp. (NYSE:MPX) will post earnings per share of $0.17 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Marine Products’ earnings. The highest EPS estimate is $0.17 and the lowest is $0.16. Marine Products posted earnings per share of $0.22 in the same quarter last year, which indicates a negative year over year growth rate of 22.7%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 24th.
On average, analysts expect that Marine Products will report full-year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $0.76. For the next financial year, analysts expect that the firm will report earnings of $0.86 per share, with EPS estimates ranging from $0.81 to $0.91. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Marine Products.
Marine Products (NYSE:MPX) last issued its quarterly earnings results on Wednesday, January 23rd. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.05). Marine Products had a net margin of 9.54% and a return on equity of 37.32%. The business had revenue of $62.06 million during the quarter, compared to analyst estimates of $70.42 million.
Hedge funds have recently made changes to their positions in the company. Strs Ohio grew its holdings in Marine Products by 213.0% in the 4th quarter. Strs Ohio now owns 7,200 shares of the company’s stock valued at $121,000 after buying an additional 4,900 shares in the last quarter. Macquarie Group Ltd. grew its stake in shares of Marine Products by 508.3% in the 2nd quarter. Macquarie Group Ltd. now owns 7,300 shares of the company’s stock valued at $130,000 after purchasing an additional 6,100 shares during the last quarter. Signaturefd LLC purchased a new stake in shares of Marine Products in the third quarter valued at approximately $211,000. Rhumbline Advisers purchased a new stake in shares of Marine Products in the fourth quarter valued at approximately $193,000. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Marine Products by 82.8% in the third quarter. O Shaughnessy Asset Management LLC now owns 11,572 shares of the company’s stock valued at $265,000 after purchasing an additional 5,243 shares during the period. 14.08% of the stock is owned by institutional investors and hedge funds.
MPX stock opened at $13.72 on Wednesday. The stock has a market cap of $477.46 million, a P/E ratio of 16.67 and a beta of 0.40. Marine Products has a twelve month low of $13.19 and a twelve month high of $24.82.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Monday, February 11th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.50%. This is an increase from Marine Products’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, February 8th. Marine Products’s dividend payout ratio (DPR) is 48.19%.
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. 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.
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