Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Has Average Target Price of $83.38

Key Points

• Analysts remain bullish on Marex Group: Nine brokerages give the stock an average “Buy” rating, with a 12-month average price target of $83.38, above its reported opening price of $71.88.
• Strong quarterly performance: Marex reported quarterly EPS of $1.64, exceeding the $1.36 consensus estimate, while revenue rose 39.1% year over year to $695.8 million.
• The company pays a modest dividend and has attracted institutional interest: Marex declared an annualized dividend of $0.64 per share, yielding about 0.9%, while investors including Wasatch Advisors significantly increased their positions.

Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) have been assigned an average recommendation of "Buy" from the nine brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $83.38.

A number of research analysts have commented on the company. The Goldman Sachs Group reaffirmed a "buy" rating and set a $80.00 target price on shares of Marex Group plc Ordinary Shares in a report on Friday, August 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Marex Group plc Ordinary Shares in a report on Monday, August 24th. Zacks Research raised Marex Group plc Ordinary Shares from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 10th. Jefferies Financial Group raised their price objective on Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, July 20th. Finally, UBS Group lifted their price objective on shares of Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, August 13th.

Marex Group plc Ordinary Shares Stock Performance

MRX opened at $71.88 on Thursday. The company has a market cap of $5.24 billion, a P/E ratio of 12.90 and a beta of -0.02. The business has a 50-day moving average of $70.90. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.09 and a quick ratio of 1.07. Marex Group plc Ordinary Shares has a 1-year low of $29.25 and a 1-year high of $79.11.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.36 by $0.28. The business had revenue of $695.80 million for the quarter. Marex Group plc Ordinary Shares had a net margin of 17.43% and a return on equity of 27.94%. The business's revenue for the quarter was up 39.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. As a group, sell-side analysts expect that Marex Group plc Ordinary Shares will post 6.11 earnings per share for the current fiscal year.

Marex Group plc Ordinary Shares Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MRX. Envestnet Asset Management Inc. grew its position in shares of Marex Group plc Ordinary Shares by 14.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 87,087 shares of the company's stock worth $5,308,000 after purchasing an additional 10,800 shares in the last quarter. BlueCrest Capital Management Ltd bought a new stake in shares of Marex Group plc Ordinary Shares in the second quarter valued at approximately $244,000. Oakmont Investment Advisors Inc. bought a new stake in shares of Marex Group plc Ordinary Shares in the second quarter valued at approximately $497,000. Wasatch Advisors LP grew its position in Marex Group plc Ordinary Shares by 883.6% during the second quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company's stock worth $102,583,000 after buying an additional 1,511,952 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in Marex Group plc Ordinary Shares during the second quarter worth approximately $1,048,000.

About Marex Group plc Ordinary Shares

Marex Group plc is a diversified financial services company that provides liquidity, market access, execution, clearing, hedging and other trading-related services to institutional, corporate and professional clients. The company operates across a range of markets, including commodities, energy, metals, agriculture, foreign exchange, interest rates, equities and credit.

Its businesses include agency and principal trading, market making, brokerage, exchange-traded and over-the-counter clearing, and the distribution of financial products.

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