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

Marine Products (NYSE:MPX) posted its earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the firm posted $0.30 earnings per share.

Marine Products Price Performance

NYSE:MPX traded down $0.19 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 200-day moving average price of $10.02. Marine Products has a 52 week low of $8.86 and a 52 week high of $12.47. The company has a market cap 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be given 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 currently 55.45%.

Analyst Upgrades and Downgrades

Separately, DA Davidson dropped their target price 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.