Marex Group plc Ordinary Shares (NASDAQ:MRX) Receives $82.00 Average PT from Brokerages

Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX) have received an average rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $82.00.

MRX has been the topic of a number of recent research reports. TD Cowen upped their price target on shares of Marex Group plc Ordinary Shares from $67.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, June 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Marex Group plc Ordinary Shares in a research note on Monday, August 24th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Marex Group plc Ordinary Shares in a research note on Friday, August 14th. Barclays boosted their target price on Marex Group plc Ordinary Shares from $76.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. Finally, Zacks Research upgraded Marex Group plc Ordinary Shares from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, June 10th.

Institutional Investors Weigh In On Marex Group plc Ordinary Shares

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vestor Capital LLC bought a new stake in shares of Marex Group plc Ordinary Shares during the first quarter worth $45,000. Fifth Third Bancorp grew its stake in shares of Marex Group plc Ordinary Shares by 89.5% during the first quarter. Fifth Third Bancorp now owns 1,209 shares of the company’s stock worth $54,000 after acquiring an additional 571 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Marex Group plc Ordinary Shares in the 2nd quarter valued at $244,000. Abel Hall LLC purchased a new position in Marex Group plc Ordinary Shares during the 1st quarter worth approximately $214,000. Finally, Pale Fire Capital SE purchased a new position in Marex Group plc Ordinary Shares during the first quarter valued at approximately $239,000.

Marex Group plc Ordinary Shares Trading Up 1.5%

Shares of MRX stock opened at $74.39 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.53. The company has a market capitalization of $5.43 billion, a PE ratio of 13.36 and a beta of -0.08. Marex Group plc Ordinary Shares has a 12-month low of $27.91 and a 12-month high of $79.11. The stock has a 50-day moving average price of $68.74.

Marex Group plc Ordinary Shares (NASDAQ:MRX) last released its quarterly earnings results on Wednesday, August 12th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.28. The business had revenue of $695.80 million during the quarter. Marex Group plc Ordinary Shares had a return on equity of 27.94% and a net margin of 17.43%.The business’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, research analysts predict that Marex Group plc Ordinary Shares will post 5.84 EPS for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Monday, August 24th were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.64 annualized dividend and a yield of 0.9%. Marex Group plc Ordinary Shares’s dividend payout ratio (DPR) is presently 11.49%.

Marex Group plc Ordinary Shares Company Profile

Marex Group plc is a diversified global financial services company that provides market access, execution, clearing, liquidity and hedging solutions to institutional and commercial clients. Its customers include corporations, financial institutions, asset managers, hedge funds, professional traders and other market participants.

The company’s services span commodities, energy, metals, foreign exchange, equities, fixed income and other financial markets. Marex supports clients through clearing and agency execution, market making, brokerage, prime services, hedging and investment solutions, as well as market data, analytics and technology-enabled trading services.

Founded in 2005, Marex has expanded from its origins as a specialist commodities broker into a global platform serving clients across North America, Europe, Asia and other international markets.