Marex Group plc Ordinary Shares (NASDAQ:MRX) Given Average Rating of "Buy" by Analysts

Key Points

• Analysts remain bullish on Marex Group: Nine firms give the stock a consensus “Buy” rating, with an average 12-month price target of $82, compared with a recent price of $73.
• Recent financial results exceeded expectations: Marex reported quarterly EPS of $1.64 versus the $1.36 consensus estimate, while revenue rose 39.1% year over year to $695.8 million.
• The company paid a quarterly dividend of $0.16, equivalent to a $0.64 annualized payout and a 0.9% yield. Institutional ownership also increased, including an 883.6% stake increase by Wasatch Advisors.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) has been assigned a consensus rating of "Buy" from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $82.00.

A number of research firms have recently weighed in on MRX. Piper Sandler increased their target price on shares of Marex Group plc Ordinary Shares from $55.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, July 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Marex Group plc Ordinary Shares in a research report on Monday, August 24th. Compass Point set a $80.00 price target on Marex Group plc Ordinary Shares in a research note on Thursday, July 9th. The Goldman Sachs Group reissued a "buy" rating and issued a $80.00 price objective on shares of Marex Group plc Ordinary Shares in a report on Friday, August 14th. Finally, Zacks Research upgraded Marex Group plc Ordinary Shares from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 10th.

Marex Group plc Ordinary Shares Price Performance

Shares of NASDAQ:MRX opened at $73.00 on Friday. The company has a market cap of $5.32 billion, a P/E ratio of 13.11 and a beta of -0.08. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.07. The company has a fifty day simple moving average of $68.29. Marex Group plc Ordinary Shares has a 1 year low of $27.91 and a 1 year high of $79.11.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.28. The company had revenue of $695.80 million for the quarter. Marex Group plc Ordinary Shares had a return on equity of 27.94% and a net margin of 17.43%.The company's revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts anticipate that Marex Group plc Ordinary Shares will post 5.84 earnings per share for the current year.

Marex Group plc Ordinary Shares Dividend Announcement

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

Institutional Trading of Marex Group plc Ordinary Shares

Institutional investors have recently modified their holdings of the business. Wasatch Advisors LP grew its stake in Marex Group plc Ordinary Shares by 883.6% in the 2nd quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company's stock valued at $102,583,000 after buying an additional 1,511,952 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Marex Group plc Ordinary Shares by 8.9% in the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company's stock worth $71,626,000 after acquiring an additional 131,436 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Marex Group plc Ordinary Shares by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company's stock valued at $39,115,000 after purchasing an additional 93,863 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Marex Group plc Ordinary Shares by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 484,524 shares of the company's stock valued at $21,600,000 after purchasing an additional 48,752 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Marex Group plc Ordinary Shares by 34.3% during the 1st quarter. Bank of America Corp DE now owns 385,026 shares of the company's stock valued at $17,164,000 after purchasing an additional 98,334 shares during the period.

About Marex Group plc Ordinary Shares

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.

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