Seaport Global Securities Analysts Cut Earnings Estimates for Marten Transport, Ltd. (MRTN)
Marten Transport, Ltd. (NASDAQ:MRTN) – Stock analysts at Seaport Global Securities decreased their Q3 2017 earnings per share (EPS) estimates for shares of Marten Transport in a note issued to investors on Wednesday. Seaport Global Securities analyst R. Wood now forecasts that the transportation company will earn $0.13 per share for the quarter, down from their previous forecast of $0.16. Seaport Global Securities also issued estimates for Marten Transport’s Q4 2017 earnings at $0.15 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.21 EPS and FY2019 earnings at $0.83 EPS.
Marten Transport (NASDAQ:MRTN) last released its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. The company had revenue of $171.51 million for the quarter, compared to analyst estimates of $176.08 million. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share.
MRTN has been the topic of a number of other research reports. Zacks Investment Research cut Marten Transport from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine upgraded Marten Transport from a “hold” rating to a “buy” rating in a research note on Tuesday, July 11th. Stifel Nicolaus restated a “hold” rating and set a $15.00 price objective on shares of Marten Transport in a research note on Sunday, October 1st. Finally, BidaskClub lowered Marten Transport from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $19.00.
Marten Transport (MRTN) opened at 19.75 on Thursday. The firm’s 50-day moving average price is $18.49 and its 200-day moving average price is $16.16. Marten Transport has a 1-year low of $11.22 and a 1-year high of $21.15. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 31.75 and a beta of 1.32.
Hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in Marten Transport by 2.4% in the first quarter. PNC Financial Services Group Inc. now owns 4,688 shares of the transportation company’s stock worth $111,000 after purchasing an additional 108 shares during the period. SG Americas Securities LLC acquired a new stake in Marten Transport in the second quarter worth approximately $116,000. State of Alaska Department of Revenue lifted its position in Marten Transport by 78.9% in the second quarter. State of Alaska Department of Revenue now owns 4,580 shares of the transportation company’s stock worth $125,000 after purchasing an additional 2,020 shares during the period. Mason Street Advisors LLC lifted its position in Marten Transport by 7.2% in the first quarter. Mason Street Advisors LLC now owns 5,418 shares of the transportation company’s stock worth $127,000 after purchasing an additional 365 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Marten Transport by 17.3% in the first quarter. Victory Capital Management Inc. now owns 9,104 shares of the transportation company’s stock worth $213,000 after purchasing an additional 1,342 shares during the period. Institutional investors and hedge funds own 42.36% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.025 per share. The ex-dividend date was Thursday, September 14th. This is an increase from Marten Transport’s previous quarterly dividend of $0.02. This represents a $0.10 annualized dividend and a dividend yield of 0.51%. Marten Transport’s payout ratio is currently 15.97%.
About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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