Marex Group plc Ordinary Shares (NASDAQ:MRX) Given Average Recommendation of “Buy” by Analysts

Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) have earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $82.00.

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Marex Group plc Ordinary Shares in a research report on Monday, August 24th. Jefferies Financial Group lifted their price objective on Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Zacks Research upgraded Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group restated a “buy” rating and issued a $80.00 target price on shares of Marex Group plc Ordinary Shares in a research note on Friday, August 14th. Finally, Compass Point set a $80.00 price target on Marex Group plc Ordinary Shares in a research report on Thursday, July 9th.

Hedge Funds Weigh In On Marex Group plc Ordinary Shares

Institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP raised its position in shares of Marex Group plc Ordinary Shares by 883.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company’s stock valued at $102,583,000 after buying an additional 1,511,952 shares in the last quarter. Jennison Associates LLC grew its position in Marex Group plc Ordinary Shares by 8.9% in the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock worth $71,626,000 after acquiring an additional 131,436 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Marex Group plc Ordinary Shares by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company’s stock worth $39,115,000 after acquiring an additional 93,863 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Marex Group plc Ordinary Shares by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company’s stock valued at $21,600,000 after acquiring an additional 48,752 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Marex Group plc Ordinary Shares by 34.3% during the first quarter. Bank of America Corp DE now owns 385,026 shares of the company’s stock valued at $17,164,000 after purchasing an additional 98,334 shares in the last quarter.

Marex Group plc Ordinary Shares Trading Down 1.5%

MRX stock opened at $73.00 on Friday. The company has a 50 day moving average price of $68.29. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 13.11 and a beta of -0.08. Marex Group plc Ordinary Shares has a 12 month low of $27.91 and a 12 month high of $79.11. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.07.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last posted its earnings results on Wednesday, August 12th. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.28. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. The business had revenue of $695.80 million for the quarter. During the same period last year, the company posted $0.98 EPS. The business’s revenue was up 39.1% on a year-over-year basis. Sell-side analysts predict that Marex Group plc Ordinary Shares will post 5.84 EPS for the current year.

Marex Group plc Ordinary Shares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Monday, August 24th. Marex Group plc Ordinary Shares’s payout ratio is currently 11.49%.

Marex Group plc Ordinary Shares Company Profile

Marex Group plc is a diversified global financial services company that provides market access, execution, clearing, liquidity and hedging solutions to institutional and commercial clients. Its customers include corporations, financial institutions, asset managers, hedge funds, professional traders and other market participants.

The company’s services span commodities, energy, metals, foreign exchange, equities, fixed income and other financial markets. Marex supports clients through clearing and agency execution, market making, brokerage, prime services, hedging and investment solutions, as well as market data, analytics and technology-enabled trading services.

Founded in 2005, Marex has expanded from its origins as a specialist commodities broker into a global platform serving clients across North America, Europe, Asia and other international markets.