Equities research analysts predict that Martin Midstream Partners L.P. (NASDAQ:MMLP) will post sales of $226.83 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Martin Midstream Partners’ earnings, with the highest sales estimate coming in at $243.54 million and the lowest estimate coming in at $210.12 million. Martin Midstream Partners posted sales of $193.13 million during the same quarter last year, which would indicate a positive year over year growth rate of 17.4%. The firm is expected to report its next quarterly earnings report on Wednesday, October 24th.
On average, analysts expect that Martin Midstream Partners will report full year sales of $1.00 billion for the current fiscal year, with estimates ranging from $994.00 million to $1.02 billion. For the next year, analysts forecast that the firm will post sales of $1.02 billion, with estimates ranging from $969.91 million to $1.08 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Martin Midstream Partners.
Martin Midstream Partners (NASDAQ:MMLP) last released its quarterly earnings results on Wednesday, July 25th. The pipeline company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.12). Martin Midstream Partners had a net margin of 0.77% and a return on equity of 5.89%. The firm had revenue of $216.57 million during the quarter, compared to the consensus estimate of $222.53 million.
MMLP has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Martin Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 31st. Zacks Investment Research lowered shares of Martin Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 26th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $17.00 price target on shares of Martin Midstream Partners in a research report on Monday, July 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.20.
A number of hedge funds have recently made changes to their positions in the stock. OppenheimerFunds Inc. increased its position in Martin Midstream Partners by 1.6% during the second quarter. OppenheimerFunds Inc. now owns 6,546,670 shares of the pipeline company’s stock worth $90,345,000 after acquiring an additional 101,718 shares during the period. Brookfield Asset Management Inc. increased its position in Martin Midstream Partners by 2.9% during the first quarter. Brookfield Asset Management Inc. now owns 2,025,324 shares of the pipeline company’s stock worth $27,342,000 after acquiring an additional 57,457 shares during the period. GSA Capital Partners LLP increased its position in Martin Midstream Partners by 198.2% during the second quarter. GSA Capital Partners LLP now owns 107,965 shares of the pipeline company’s stock worth $1,490,000 after acquiring an additional 71,765 shares during the period. PVG Asset Management Corp increased its position in Martin Midstream Partners by 35.8% during the second quarter. PVG Asset Management Corp now owns 45,900 shares of the pipeline company’s stock worth $633,000 after acquiring an additional 12,100 shares during the period. Finally, Rational Advisors LLC increased its position in Martin Midstream Partners by 35.8% during the second quarter. Rational Advisors LLC now owns 45,900 shares of the pipeline company’s stock worth $633,000 after acquiring an additional 12,100 shares during the period. 28.78% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:MMLP opened at $11.62 on Friday. Martin Midstream Partners has a 12 month low of $10.65 and a 12 month high of $17.30. The company has a market capitalization of $453.01 million, a PE ratio of 26.88, a PEG ratio of 17.40 and a beta of 1.50. The company has a debt-to-equity ratio of 3.14, a quick ratio of 0.86 and a current ratio of 1.88.
Martin Midstream Partners Company Profile
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 22 marine shore-based terminal facilities and 16 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
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