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

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

Marine Products Trading Down 2.0 %

Shares of NYSE:MPX traded down $0.19 during trading on Friday, hitting $9.40. 23,574 shares of the company’s stock were exchanged, compared to its average volume of 50,187. The firm has a 50-day moving average price of $9.49 and a two-hundred day moving average price of $10.02. Marine Products has a 1-year low of $8.86 and a 1-year high of $12.47. The firm has a market cap of $326.02 million, a P/E ratio of 9.31 and a beta of 1.23.

Marine Products Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, DA Davidson decreased their price objective on Marine Products from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report 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.