SunTrust Banks Analysts Cut Earnings Estimates for Martin Marietta Materials, Inc. (MLM)

Martin Marietta Materials, Inc. (NYSE:MLM) – Equities research analysts at SunTrust Banks lowered their FY2018 earnings estimates for Martin Marietta Materials in a report released on Monday. SunTrust Banks analyst R. Seth now expects that the construction company will post earnings per share of $8.48 for the year, down from their previous estimate of $8.86. SunTrust Banks has a “Buy” rating and a $245.00 price target on the stock. SunTrust Banks also issued estimates for Martin Marietta Materials’ Q3 2019 earnings at $3.74 EPS and FY2019 earnings at $9.87 EPS.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Tuesday, February 13th. The construction company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.41. The business had revenue of $911.30 million during the quarter, compared to analyst estimates of $924.30 million. Martin Marietta Materials had a net margin of 11.03% and a return on equity of 10.39%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share.

MLM has been the subject of a number of other research reports. Alembic Global Advisors restated a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday. Zacks Investment Research upgraded shares of Martin Marietta Materials from a “strong sell” rating to a “hold” rating in a research note on Friday, January 19th. Stephens restated a “hold” rating and issued a $250.00 price target on shares of Martin Marietta Materials in a research note on Wednesday, January 3rd. DA Davidson restated a “hold” rating and issued a $225.00 price target on shares of Martin Marietta Materials in a research note on Friday, November 3rd. Finally, Barclays began coverage on shares of Martin Marietta Materials in a research note on Tuesday, December 12th. They issued an “equal weight” rating and a $227.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Martin Marietta Materials has a consensus rating of “Hold” and an average price target of $243.25.

Shares of Martin Marietta Materials (NYSE MLM) traded down $4.27 during trading hours on Wednesday, hitting $214.14. 298,778 shares of the company were exchanged, compared to its average volume of 735,950. The company has a current ratio of 2.73, a quick ratio of 1.50 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $13,374.00, a price-to-earnings ratio of 31.22, a PEG ratio of 2.22 and a beta of 1.10. Martin Marietta Materials has a fifty-two week low of $191.09 and a fifty-two week high of $244.32.

A number of hedge funds have recently added to or reduced their stakes in the business. First Republic Investment Management Inc. increased its stake in Martin Marietta Materials by 12.8% during the fourth quarter. First Republic Investment Management Inc. now owns 2,139 shares of the construction company’s stock valued at $473,000 after purchasing an additional 242 shares during the last quarter. ARP Americas LLC increased its stake in Martin Marietta Materials by 21.0% during the third quarter. ARP Americas LLC now owns 1,452 shares of the construction company’s stock valued at $299,000 after purchasing an additional 252 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its stake in Martin Marietta Materials by 5.1% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 5,380 shares of the construction company’s stock valued at $1,189,000 after purchasing an additional 260 shares during the last quarter. Cetera Advisors LLC increased its stake in Martin Marietta Materials by 26.5% during the fourth quarter. Cetera Advisors LLC now owns 1,342 shares of the construction company’s stock valued at $295,000 after purchasing an additional 281 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in Martin Marietta Materials by 27.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,358 shares of the construction company’s stock valued at $300,000 after purchasing an additional 295 shares during the last quarter. Hedge funds and other institutional investors own 98.23% of the company’s stock.

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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.

Earnings History and Estimates for Martin Marietta Materials (NYSE:MLM)

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