Martin Marietta Materials, Inc. (MLM) Announces Earnings Results, Misses Estimates By $0.06 EPS
Martin Marietta Materials, Inc. (NYSE:MLM) released its earnings results on Thursday. The construction company reported $2.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.45 by ($0.06), Briefing.com reports. The firm had revenue of $1.02 million for the quarter, compared to analyst estimates of $1.07 billion. Martin Marietta Materials had a return on equity of 10.51% and a net margin of 11.03%. Martin Marietta Materials’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.49 earnings per share.
Martin Marietta Materials (NYSE MLM) traded down $5.49 during trading hours on Friday, hitting $211.81. The company had a trading volume of 589,599 shares, compared to its average volume of 572,985. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 2.09 and a beta of 1.14. The company has a current ratio of 2.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.39.
MLM has been the topic of a number of research analyst reports. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $228.00 target price on shares of Martin Marietta Materials in a report on Friday, October 27th. Jefferies Group LLC set a $166.00 target price on Martin Marietta Materials and gave the stock a “hold” rating in a report on Monday, August 21st. Bank of America Corporation lowered their target price on Martin Marietta Materials from $233.00 to $229.00 and set a “neutral” rating on the stock in a report on Thursday, October 19th. Zacks Investment Research lowered Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $260.00 target price (down from $270.00) on shares of Martin Marietta Materials in a report on Monday, October 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Martin Marietta Materials has an average rating of “Hold” and a consensus target price of $242.43.
In related news, Director John J. Koraleski purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was acquired at an average price of $198.37 per share, for a total transaction of $99,185.00. Following the transaction, the director now directly owns 1,439 shares of the company’s stock, valued at approximately $285,454.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.45% of the company’s stock.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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