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

Marine Products (NYSE:MPX) issued its quarterly earnings data on Thursday. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02, Zacks reports. The firm had revenue of $49.85 million during the quarter. Marine Products had a return on equity of 17.86% and a net margin of 9.04%. During the same quarter last year, the company earned $0.30 earnings per share.

Marine Products Price Performance

Marine Products stock traded down $0.19 during midday trading on Friday, reaching $9.40. The company’s stock had a trading volume of 23,574 shares, compared to its average volume of 50,187. The stock’s 50-day simple moving average is $9.49 and its 200-day simple moving average is $10.02. Marine Products has a 52-week low of $8.86 and a 52-week high of $12.47. The stock has a market capitalization of $326.02 million, a P/E ratio of 9.31 and a beta of 1.23.

Marine Products Dividend Announcement

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

Analysts Set New Price Targets

Separately, DA Davidson decreased their price objective on Marine Products from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Monday, August 12th.

About Marine Products

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.