Wall Street brokerages forecast that Martin Midstream Partners L.P. (NASDAQ:MMLP) will post sales of $185.42 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Martin Midstream Partners L.P.’s earnings. The lowest sales estimate is $176.90 million and the highest is $191.15 million. Martin Midstream Partners L.P. reported sales of $174.54 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 25th.

On average, analysts expect that Martin Midstream Partners L.P. will report full year sales of $185.42 million for the current financial year, with estimates ranging from $853.91 million to $873.00 million. For the next financial year, analysts expect that the company will post sales of $880.09 million per share, with estimates ranging from $860.21 million to $898.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Martin Midstream Partners L.P..

Martin Midstream Partners L.P. (NASDAQ:MMLP) last posted its earnings results on Wednesday, July 26th. The pipeline company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.07. Martin Midstream Partners L.P. had a return on equity of 9.62% and a net margin of 3.67%. The firm had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $201.17 million. During the same period last year, the firm earned ($0.14) EPS. The company’s quarterly revenue was up 1.9% on a year-over-year basis.

Several research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Martin Midstream Partners L.P. from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. BidaskClub raised shares of Martin Midstream Partners L.P. from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Stifel Nicolaus reissued a “hold” rating and set a $20.00 price target on shares of Martin Midstream Partners L.P. in a report on Friday, August 11th. Finally, Robert W. Baird reissued a “hold” rating and set a $20.00 price target on shares of Martin Midstream Partners L.P. in a report on Thursday, August 24th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.00.

Shares of Martin Midstream Partners L.P. (MMLP) opened at 17.10 on Thursday. The firm has a market capitalization of $657.53 million, a PE ratio of 20.43 and a beta of 1.51. The company has a 50-day moving average price of $16.70 and a 200 day moving average price of $18.15. Martin Midstream Partners L.P. has a 12-month low of $15.45 and a 12-month high of $22.88.

Institutional investors have recently modified their holdings of the business. Creative Planning increased its holdings in Martin Midstream Partners L.P. by 33.8% in the second quarter. Creative Planning now owns 5,893 shares of the pipeline company’s stock valued at $104,000 after buying an additional 1,490 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Martin Midstream Partners L.P. by 192.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock valued at $167,000 after buying an additional 6,280 shares in the last quarter. Global X Management Co. LLC increased its holdings in Martin Midstream Partners L.P. by 18.0% in the first quarter. Global X Management Co. LLC now owns 16,823 shares of the pipeline company’s stock valued at $336,000 after buying an additional 2,563 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Martin Midstream Partners L.P. by 61.1% in the first quarter. Ameriprise Financial Inc. now owns 19,753 shares of the pipeline company’s stock valued at $395,000 after buying an additional 7,493 shares in the last quarter. Finally, Sippican Capital Advisors increased its holdings in Martin Midstream Partners L.P. by 1.8% in the second quarter. Sippican Capital Advisors now owns 28,120 shares of the pipeline company’s stock valued at $494,000 after buying an additional 500 shares in the last quarter. 31.80% of the stock is owned by institutional investors.

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About Martin Midstream Partners L.P.

Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.

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Earnings History and Estimates for Martin Midstream Partners L.P. (NASDAQ:MMLP)

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