Zacks: Analysts Expect Marine Products Corp. (MPX) Will Post Earnings of $0.18 Per Share
Wall Street analysts predict that Marine Products Corp. (NYSE:MPX) will announce earnings per share of $0.18 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Marine Products’ earnings. The highest EPS estimate is $0.19 and the lowest is $0.16. Marine Products posted earnings per share of $0.13 in the same quarter last year, which indicates a positive year over year growth rate of 38.5%. The firm is expected to report its next earnings results before the market opens on Wednesday, October 24th.
On average, analysts expect that Marine Products will report full year earnings of $0.83 per share for the current financial year, with EPS estimates ranging from $0.81 to $0.85. For the next fiscal year, analysts expect that the firm will post earnings of $0.87 per share, with EPS estimates ranging from $0.85 to $0.89. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Marine Products.
Marine Products (NYSE:MPX) last announced its quarterly earnings data on Wednesday, July 25th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.05. Marine Products had a net margin of 8.47% and a return on equity of 36.05%. The firm had revenue of $87.01 million during the quarter, compared to analyst estimates of $75.81 million.
A number of hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. boosted its stake in shares of Marine Products by 508.3% in the second quarter. Macquarie Group Ltd. now owns 7,300 shares of the company’s stock valued at $130,000 after purchasing an additional 6,100 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Marine Products by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 627,472 shares of the company’s stock valued at $11,157,000 after purchasing an additional 9,353 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Marine Products in the second quarter valued at approximately $203,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Marine Products by 42.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 42,020 shares of the company’s stock valued at $589,000 after purchasing an additional 12,604 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Marine Products by 8.6% in the second quarter. Renaissance Technologies LLC now owns 234,933 shares of the company’s stock valued at $4,177,000 after purchasing an additional 18,633 shares during the period. 14.41% of the stock is owned by institutional investors.
Shares of MPX traded up $0.83 during mid-day trading on Friday, reaching $23.91. The stock had a trading volume of 1,164 shares, compared to its average volume of 23,769. The firm has a market capitalization of $790.80 million, a P/E ratio of 38.50 and a beta of 0.30. Marine Products has a 52-week low of $12.00 and a 52-week high of $24.82.
About Marine Products
Marine Products Corporation designs, manufactures, and sells recreational fiberglass powerboats for the sportboat, deckboat, cruiser, jet boat, and sport fishing markets worldwide. It provides Chaparral sterndrive pleasure boats, including SSi and SSX sportboats, Sunesta sportdecks, Signature cruisers, SunCoast sportdeck outboards, Vortex Jet Boats, and Robalo outboard sport fishing boats, as well as H2O Sport, and Fish and Ski boats.
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