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

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

Marine Products Stock Down 2.0 %

NYSE MPX traded down $0.19 during trading hours on Friday, hitting $9.40. 23,574 shares of the company were exchanged, compared to its average volume of 50,187. The company has a 50 day moving average of $9.49 and a two-hundred day moving average of $10.02. Marine Products has a 52-week low of $8.86 and a 52-week high of $12.47. The firm has a market cap of $326.02 million, a price-to-earnings ratio of 9.31 and a beta of 1.23.

Marine Products Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be issued a $0.14 dividend. The ex-dividend date 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 presently 55.45%.

Wall Street Analyst Weigh In

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