Marine Products (NYSE:MPX - Get Free Report) posted its quarterly earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.02, Zacks reports. The firm had revenue of $49.85 million for 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 firm earned $0.30 earnings per share.
Marine Products Stock Down 2.0 %
Shares of MPX traded down $0.19 on Friday, reaching $9.40. The stock had a trading volume of 23,574 shares, compared to its average volume of 50,187. Marine Products has a twelve month low of $8.86 and a twelve month high of $12.47. The firm has a market capitalization of $326.02 million, a PE ratio of 9.31 and a beta of 1.23. The firm has a 50-day moving average of $9.49 and a 200 day moving average of $10.02.
Marine Products Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.96%. Marine Products's payout ratio is 55.45%.
Analysts Set New Price Targets
Separately, DA Davidson decreased their target price 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.
Get Our Latest Stock Analysis on Marine Products
Marine Products Company Profile
(
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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.
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