Brokerages predict that Marine Products Corp. (NYSE:MPX) will report $0.21 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have provided estimates for Marine Products’ earnings, with estimates ranging from $0.19 to $0.23. Marine Products reported earnings of $0.26 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 19.2%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, July 24th.
According to Zacks, analysts expect that Marine Products will report full year earnings of $0.81 per share for the current fiscal year, with EPS estimates ranging from $0.80 to $0.81. For the next fiscal year, analysts anticipate that the business will post earnings of $0.89 per share, with EPS estimates ranging from $0.85 to $0.93. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Marine Products.
Marine Products (NYSE:MPX) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Marine Products had a return on equity of 36.92% and a net margin of 9.32%. The business had revenue of $83.05 million during the quarter, compared to analyst estimates of $73.18 million.
Institutional investors have recently made changes to their positions in the company. Denali Advisors LLC increased its stake in shares of Marine Products by 54.8% in the 2nd quarter. Denali Advisors LLC now owns 18,861 shares of the company’s stock valued at $291,000 after purchasing an additional 6,680 shares in the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Marine Products in the 1st quarter valued at about $884,000. Stanley Laman Group Ltd. purchased a new position in shares of Marine Products in the 1st quarter valued at about $236,000. Wedge Capital Management L L P NC increased its stake in shares of Marine Products by 49.7% in the 1st quarter. Wedge Capital Management L L P NC now owns 31,689 shares of the company’s stock valued at $427,000 after purchasing an additional 10,523 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Marine Products by 3.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 657,635 shares of the company’s stock valued at $11,121,000 after purchasing an additional 21,011 shares in the last quarter. 14.67% of the stock is owned by hedge funds and other institutional investors.
Shares of Marine Products stock opened at $13.49 on Tuesday. Marine Products has a 1 year low of $12.48 and a 1 year high of $24.82. The stock has a market cap of $460.35 million, a price-to-earnings ratio of 16.25 and a beta of 0.52. The company’s fifty day simple moving average is $15.31.
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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