Analysts Expect Martin Midstream Partners L.P. (MMLP) Will Announce Quarterly Sales of $237.22 Million

Equities analysts predict that Martin Midstream Partners L.P. (NASDAQ:MMLP) will report $237.22 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Martin Midstream Partners’ earnings. The highest sales estimate is $254.16 million and the lowest is $214.84 million. Martin Midstream Partners reported sales of $236.90 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.1%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, February 14th.

On average, analysts expect that Martin Midstream Partners will report full year sales of $237.22 million for the current fiscal year, with estimates ranging from $855.21 million to $894.53 million. For the next fiscal year, analysts anticipate that the firm will post sales of $884.50 million per share, with estimates ranging from $866.35 million to $895.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Martin Midstream Partners.

A number of research firms have issued reports on MMLP. BidaskClub upgraded Martin Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, January 11th. Zacks Investment Research cut Martin Midstream Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 17th. Royal Bank of Canada restated a “hold” rating and set a $18.00 price target on shares of Martin Midstream Partners in a report on Friday, October 27th. B. Riley set a $18.00 price target on Martin Midstream Partners and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, Stifel Nicolaus cut their price target on Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Martin Midstream Partners has an average rating of “Hold” and an average target price of $19.33.

Several large investors have recently modified their holdings of MMLP. Goldman Sachs Group Inc. raised its position in shares of Martin Midstream Partners by 20.0% during the second quarter. Goldman Sachs Group Inc. now owns 462,442 shares of the pipeline company’s stock worth $8,116,000 after purchasing an additional 77,177 shares during the period. Royal Bank of Canada raised its position in shares of Martin Midstream Partners by 1.9% during the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after purchasing an additional 602 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Martin Midstream Partners by 192.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 6,280 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Martin Midstream Partners by 2.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 91,873 shares of the pipeline company’s stock worth $1,612,000 after purchasing an additional 2,385 shares during the period. Finally, Adams Asset Advisors LLC raised its position in shares of Martin Midstream Partners by 2.1% during the third quarter. Adams Asset Advisors LLC now owns 294,961 shares of the pipeline company’s stock worth $4,586,000 after purchasing an additional 6,024 shares during the period. 30.21% of the stock is currently owned by institutional investors.

Martin Midstream Partners (NASDAQ:MMLP) opened at $15.55 on Thursday. The stock has a market capitalization of $586.31, a P/E ratio of 33.80 and a beta of 1.53. Martin Midstream Partners has a twelve month low of $12.70 and a twelve month high of $20.55. The company has a current ratio of 2.04, a quick ratio of 0.86 and a debt-to-equity ratio of 2.78.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Wednesday, February 7th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.86%. The ex-dividend date of this dividend was Tuesday, February 6th. Martin Midstream Partners’s payout ratio is 434.78%.

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Martin Midstream Partners Company Profile

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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