Zacks: Analysts Expect Marine Products Corp. (MPX) to Post $0.18 Earnings Per Share

Wall Street brokerages predict that Marine Products Corp. (NYSE:MPX) will report earnings per share (EPS) of $0.18 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Marine Products’ earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.19. Marine Products posted earnings of $0.13 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 38.5%. The company is scheduled to report its next earnings report 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 fiscal year, with EPS estimates ranging from $0.81 to $0.85. For the next financial year, analysts anticipate that the business will post earnings of $0.87 per share, with EPS estimates ranging from $0.85 to $0.89. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Marine Products.

Marine Products (NYSE:MPX) last issued its earnings results on Wednesday, July 25th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.05. The firm had revenue of $87.01 million for the quarter, compared to analysts’ expectations of $75.81 million. Marine Products had a net margin of 8.47% and a return on equity of 36.05%.

Several analysts recently weighed in on MPX shares. Zacks Investment Research raised shares of Marine Products from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Saturday, July 28th. ValuEngine upgraded shares of Marine Products from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th.

NYSE:MPX traded down $0.45 during mid-day trading on Friday, hitting $23.08. The stock had a trading volume of 26,400 shares, compared to its average volume of 23,924. The stock has a market cap of $800.48 million, a price-to-earnings ratio of 39.45 and a beta of 0.30. Marine Products has a twelve month low of $12.00 and a twelve month high of $24.82.

A number of institutional investors have recently made changes to their positions in MPX. Schwab Charles Investment Management Inc. increased its stake in 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 last quarter. Dimensional Fund Advisors LP increased its stake in Marine Products by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 618,119 shares of the company’s stock valued at $8,660,000 after purchasing an additional 20,430 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Marine Products in the second quarter valued at approximately $203,000. BlackRock Inc. increased its stake in Marine Products by 10.1% in the second quarter. BlackRock Inc. now owns 546,999 shares of the company’s stock valued at $9,726,000 after purchasing an additional 50,257 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in 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 last quarter. Institutional investors own 14.41% of the company’s stock.

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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Earnings History and Estimates for Marine Products (NYSE:MPX)

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