Marine Products (NYSE:MPX) Issues Earnings Results

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

Marine Products Stock Down 2.0 %

Marine Products stock traded down $0.19 during mid-day trading on Friday, hitting $9.40. 23,574 shares of the company’s stock traded hands, compared to its average volume of 50,187. The firm has a 50 day moving average price of $9.49 and a 200 day moving average price of $10.02. The company has a market cap of $326.02 million, a PE ratio of 9.31 and a beta of 1.23. Marine Products has a one year low of $8.86 and a one year high of $12.47.

Marine Products Announces Dividend

The company 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 annualized dividend and a dividend yield of 5.96%. Marine Products’s dividend payout ratio is currently 55.45%.

Analyst Ratings Changes

Separately, DA Davidson dropped their price target 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.

Marine Products Company Profile

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.