Marex Group plc Ordinary Shares (NASDAQ:MRX) Stock Rated "Buy" by Sell-Side Brokerages

Key Points

• Analysts broadly favor Marex Group: Ten research firms maintain a consensus “Buy” rating, with eight buys, one hold and one strong buy. The average 12-month price target is $83.38, with several firms recently raising targets to $90.
• 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 posted a 17.43% net margin and 27.94% return on equity.
• The stock opened at $64.41, compared with a 52-week range of $29.97 to $79.11, and the company pays a quarterly dividend of $0.16 per share, representing a 1.0% yield.

Shares of Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) have received a consensus recommendation of "Buy" from the ten research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $83.38.

Several research analysts have issued reports on MRX shares. UBS Group upped their price target on Marex Group plc Ordinary Shares from $82.00 to $90.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Compass Point set a $80.00 target price on Marex Group plc Ordinary Shares in a research note on Thursday, July 9th. William Blair assumed coverage on shares of Marex Group plc Ordinary Shares in a research note on Wednesday, October 14th. They set an "outperform" rating for the company. Jefferies Financial Group raised their price objective on Marex Group plc Ordinary Shares from $57.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Finally, Keefe, Bruyette & Woods increased their price target on Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday, August 13th.

Marex Group plc Ordinary Shares Stock Performance

Shares of MRX stock opened at $64.41 on Monday. The company has a market capitalization of $4.70 billion, a P/E ratio of 11.56 and a beta of 0.07. The stock has a 50 day moving average price of $71.76 and a two-hundred day moving average price of $63.93. Marex Group plc Ordinary Shares has a fifty-two week low of $29.97 and a fifty-two week high of $79.11. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.07 and a current ratio of 1.09.

Marex Group plc Ordinary Shares (NASDAQ:MRX - Get Free Report) last issued its quarterly earnings data 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 during 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 quarterly revenue was up 39.1% on a year-over-year basis. During the same period last year, the firm earned $0.98 EPS. Analysts expect that Marex Group plc Ordinary Shares will post 6.11 earnings per share for the current year.

Marex Group plc Ordinary Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Monday, August 24th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $0.64 annualized dividend and a yield of 1.0%. Marex Group plc Ordinary Shares's dividend payout ratio is currently 11.49%.

Insider Activity

In other Marex Group plc Ordinary Shares news, insider Paolo Tonucci sold 16,666 shares of Marex Group plc Ordinary Shares stock in a transaction on Monday, October 12th. The shares were sold at an average price of $72.03, for a total transaction of $1,200,451.98. Following the completion of the transaction, the insider directly owned 1,252,905 shares of the company's stock, valued at $90,246,747.15. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Marex Group plc Ordinary Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in Marex Group plc Ordinary Shares by 883.6% in the second 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 during the last quarter. Jennison Associates LLC lifted its holdings in Marex Group plc Ordinary Shares by 8.9% during the 1st quarter. Jennison Associates LLC now owns 1,606,691 shares of the company's stock worth $71,626,000 after buying an additional 131,436 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Marex Group plc Ordinary Shares by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company's stock valued at $39,115,000 after buying an additional 93,863 shares during the period. Bank of New York Mellon Corp grew its stake in 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 grew its holdings in shares of Marex Group plc Ordinary Shares by 34.3% in the 1st quarter. Bank of America Corp DE now owns 385,026 shares of the company's stock worth $17,164,000 after purchasing an additional 98,334 shares during the last quarter.

Marex Group plc Ordinary Shares Company Profile

Marex Group plc is a diversified financial services platform that provides execution, clearing, market-making, hedging and other trading-related services to institutional clients, corporations, asset managers, hedge funds and professional traders. The company operates across a range of asset classes, including commodities, futures and options, foreign exchange, fixed income and equities.

Its businesses support clients throughout the trading lifecycle, from accessing markets and obtaining liquidity to clearing transactions and managing financial and commodity price risk.

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