Zacks: Brokerages Anticipate Martin Midstream Partners L.P. (MMLP) Will Post Earnings of $0.36 Per Share

Analysts expect Martin Midstream Partners L.P. (NASDAQ:MMLP) to announce $0.36 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Martin Midstream Partners’ earnings, with estimates ranging from $0.27 to $0.53. Martin Midstream Partners reported earnings of $0.49 per share during the same quarter last year, which would indicate a negative year over year growth rate of 26.5%. The firm is expected to issue its next earnings results after the market closes on Wednesday, February 14th.

On average, analysts expect that Martin Midstream Partners will report full-year earnings of $0.34 per share for the current year, with EPS estimates ranging from $0.23 to $0.51. For the next fiscal year, analysts forecast that the company will post earnings of $0.78 per share, with EPS estimates ranging from $0.47 to $1.08. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that follow Martin Midstream Partners.

Several research analysts have commented on the stock. BidaskClub upgraded shares of Martin Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, January 26th. Zacks Investment Research lowered shares of Martin Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 17th. B. Riley set a $18.00 price objective on shares of Martin Midstream Partners and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $18.00 target price on shares of Martin Midstream Partners in a research report on Friday, October 27th. Finally, Stifel Nicolaus cut their price objective on shares of Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.33.

Martin Midstream Partners (NASDAQ:MMLP) opened at $15.25 on Tuesday. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.04 and a quick ratio of 0.86. Martin Midstream Partners has a 1-year low of $12.70 and a 1-year high of $20.55. The company has a market cap of $580.54, a price-to-earnings ratio of 33.15 and a beta of 1.53.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 13.11%. The ex-dividend date is Tuesday, February 6th. Martin Midstream Partners’s payout ratio is presently 434.78%.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Center Coast Capital Advisors LP boosted its holdings in shares of Martin Midstream Partners by 19.9% during the 3rd quarter. Center Coast Capital Advisors LP now owns 1,959,445 shares of the pipeline company’s stock valued at $30,469,000 after acquiring an additional 325,348 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Martin Midstream Partners by 20.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock valued at $8,116,000 after acquiring an additional 77,177 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Martin Midstream Partners by 1.9% during the 2nd quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock valued at $573,000 after acquiring an additional 602 shares during the last quarter. Atlantic Trust Group LLC boosted its holdings in shares of Martin Midstream Partners by 9.2% during the 3rd quarter. Atlantic Trust Group LLC now owns 234,300 shares of the pipeline company’s stock valued at $3,643,000 after acquiring an additional 19,790 shares during the last quarter. Finally, Arrow Investment Advisors LLC boosted its holdings in shares of Martin Midstream Partners by 14.9% during the 3rd quarter. Arrow Investment Advisors LLC now owns 41,684 shares of the pipeline company’s stock valued at $648,000 after acquiring an additional 5,393 shares during the last quarter. 30.21% of the stock is currently owned by hedge funds and other institutional investors.

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About Martin Midstream Partners

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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