Marine Products (NYSE:MPX) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Posted by Anthony Miller on Oct 27th, 2024

Marine Products (NYSE:MPX – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02, Zacks reports. The business had revenue of $49.85 million during the quarter. Marine Products had a net margin of 9.04% and a return on equity of 17.86%. During the same quarter last year, the business earned $0.30 earnings per share.

Marine Products Trading Down 2.0 %

Marine Products stock traded down $0.19 on Friday, reaching $9.40. 23,574 shares of the stock were exchanged, compared to its average volume of 50,187. The firm has a fifty day moving average price of $9.49 and a two-hundred day moving average price of $10.02. The stock has a market cap of $326.02 million, a PE ratio of 9.31 and a beta of 1.23. Marine Products has a twelve month low of $8.86 and a twelve month high of $12.47.

Marine Products Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend is Friday, November 8th. Marine Products’s dividend payout ratio is 55.45%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson dropped their price target on shares of Marine Products from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th.

View Our Latest Stock Report on Marine Products

Marine Products Company Profile

(Get Free Report)

Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sport boat and sport fishing boat markets worldwide. The company offers Chaparral sterndrive pleasure boats, including SSi Sport Boats, SSX Sport Boats, and the Surf Series; Chaparral outboard pleasure boats, which include OSX Luxury Sportboats and SSi outboard models; and Robalo outboard sport fishing boats.