Brokerages Anticipate Marten Transport, Ltd. (MRTN) Will Post Quarterly Sales of $169.90 Million
Equities analysts predict that Marten Transport, Ltd. (NASDAQ:MRTN) will post sales of $169.90 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Marten Transport’s earnings, with the highest sales estimate coming in at $175.80 million and the lowest estimate coming in at $158.30 million. Marten Transport reported sales of $170.46 million during the same quarter last year, which indicates a negative year-over-year growth rate of 0.3%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, October 19th.
On average, analysts expect that Marten Transport will report full year sales of $169.90 million for the current financial year, with estimates ranging from $678.40 million to $701.20 million. For the next fiscal year, analysts anticipate that the company will report sales of $751.77 million per share, with estimates ranging from $737.20 million to $775.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Marten Transport.
Marten Transport (NASDAQ:MRTN) last released its earnings results on Thursday, July 20th. The transportation company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. The firm had revenue of $171.51 million during the quarter, compared to analysts’ expectations of $176.08 million. During the same period in the previous year, the firm posted $0.26 EPS. Marten Transport’s revenue for the quarter was up 3.3% on a year-over-year basis.
MRTN has been the subject of several recent research reports. Zacks Investment Research upgraded Marten Transport from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Tuesday, July 25th. ValuEngine upgraded Marten Transport from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Stifel Nicolaus set a $15.00 price target on Marten Transport and gave the company a “hold” rating in a report on Wednesday, August 23rd. Finally, BidaskClub upgraded Marten Transport from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $19.00.
Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Marten Transport by 14.7% during the first quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock valued at $43,177,000 after acquiring an additional 235,974 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Marten Transport by 2.3% during the second quarter. Vanguard Group Inc. now owns 1,261,440 shares of the transportation company’s stock valued at $34,563,000 after acquiring an additional 28,574 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Marten Transport by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 1,232,898 shares of the transportation company’s stock valued at $33,782,000 after acquiring an additional 84,766 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Marten Transport by 46.1% during the second quarter. Goldman Sachs Group Inc. now owns 980,124 shares of the transportation company’s stock valued at $26,856,000 after acquiring an additional 309,413 shares in the last quarter. Finally, Granite Investment Partners LLC grew its stake in shares of Marten Transport by 71.2% during the second quarter. Granite Investment Partners LLC now owns 795,922 shares of the transportation company’s stock valued at $13,085,000 after acquiring an additional 331,098 shares in the last quarter. Institutional investors own 42.36% of the company’s stock.
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Marten Transport (NASDAQ MRTN) opened at 19.50 on Friday. The company’s 50-day moving average price is $18.60 and its 200 day moving average price is $16.18. Marten Transport has a 1-year low of $11.22 and a 1-year high of $21.15. The firm has a market capitalization of $1.06 billion, a PE ratio of 31.35 and a beta of 1.32.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 15.97%.
Marten Transport Company Profile
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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