Marex Group plc Ordinary Shares (NASDAQ:MRX) Receives $82.00 Consensus PT from Analysts

Marex Group plc Ordinary Shares (NASDAQ:MRX) has received an average rating of “Buy” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $82.00.

MRX has been the topic of several research analyst reports. Barclays lifted their target price on shares of 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. Compass Point set a $80.00 price target on shares of Marex Group plc Ordinary Shares in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Marex Group plc Ordinary Shares in a research note on Monday, August 24th. Keefe, Bruyette & Woods lifted their price objective on Marex Group plc Ordinary Shares from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Finally, UBS Group lifted their price objective on 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.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wasatch Advisors LP raised its holdings in shares of Marex Group plc Ordinary Shares by 883.6% during the 2nd quarter. Wasatch Advisors LP now owns 1,683,061 shares of the company’s stock worth $102,583,000 after acquiring an additional 1,511,952 shares during the period. Jennison Associates LLC raised its stake in Marex Group plc Ordinary Shares by 8.9% during the first quarter. Jennison Associates LLC now owns 1,606,691 shares of the company’s stock worth $71,626,000 after purchasing an additional 131,436 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Marex Group plc Ordinary Shares by 11.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 908,596 shares of the company’s stock worth $39,115,000 after purchasing an additional 93,863 shares during the period. Bank of New York Mellon Corp boosted its holdings in Marex Group plc Ordinary Shares by 11.2% in the 1st 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 during the last quarter. Finally, Bank of America Corp DE boosted its holdings in 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 valued at $17,164,000 after purchasing an additional 98,334 shares during the last quarter.

Marex Group plc Ordinary Shares Stock Performance

Shares of Marex Group plc Ordinary Shares stock opened at $73.27 on Friday. The stock has a 50-day moving average price of $68.57. The firm has a market capitalization of $5.34 billion, a P/E ratio of 13.15 and a beta of -0.08. Marex Group plc Ordinary Shares has a fifty-two week low of $27.91 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) last posted its earnings results on Wednesday, August 12th. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.28. The firm 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%.Marex Group plc Ordinary Shares’s revenue was up 39.1% on a year-over-year basis. During the same quarter last year, the business earned $0.98 earnings per share. Equities research analysts forecast that Marex Group plc Ordinary Shares will post 5.84 EPS 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. Shareholders of record on Monday, August 24th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Monday, August 24th. Marex Group plc Ordinary Shares’s payout ratio is 11.49%.

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.