Equities research analysts expect that Marten Transport, Ltd (NASDAQ:MRTN) will post sales of $219.35 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Marten Transport’s earnings, with the highest sales estimate coming in at $223.10 million and the lowest estimate coming in at $215.60 million. Marten Transport posted sales of $214.97 million during the same quarter last year, which would indicate a positive year over year growth rate of 2%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 15th.
On average, analysts expect that Marten Transport will report full-year sales of $873.45 million for the current financial year, with estimates ranging from $864.30 million to $882.60 million. For the next financial year, analysts forecast that the business will post sales of $914.60 million, with estimates ranging from $891.50 million to $937.70 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Marten Transport.
Marten Transport (NASDAQ:MRTN) last issued its earnings results on Thursday, July 16th. The transportation company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.07. Marten Transport had a return on equity of 10.61% and a net margin of 7.44%. The business had revenue of $212.38 million during the quarter, compared to analysts’ expectations of $207.80 million.
A number of equities research analysts recently weighed in on MRTN shares. Zacks Investment Research raised Marten Transport from a “hold” rating to a “buy” rating and set a $19.33 price target for the company in a report on Friday, July 10th. Loop Capital raised Marten Transport from a “hold” rating to a “buy” rating and raised their price target for the company from $17.33 to $18.00 in a report on Wednesday, June 10th. KeyCorp dropped their price target on Marten Transport from $31.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, September 2nd. Finally, BidaskClub cut Marten Transport from a “hold” rating to a “sell” rating in a report on Saturday, September 19th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $18.25.
MRTN stock opened at $15.81 on Thursday. The business has a fifty day moving average price of $17.97 and a 200 day moving average price of $16.19. Marten Transport has a fifty-two week low of $10.67 and a fifty-two week high of $20.13. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 20.27 and a beta of 0.97.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.16 annualized dividend and a dividend yield of 1.01%. Marten Transport’s dividend payout ratio (DPR) is currently 21.62%.
In other news, President Timothy M. Kohl sold 25,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $18.55, for a total value of $463,750.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 22.80% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. bought a new stake in shares of Marten Transport in the second quarter valued at about $28,000. First Mercantile Trust Co. acquired a new stake in shares of Marten Transport in the second quarter valued at about $96,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Marten Transport by 134.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,236 shares of the transportation company’s stock valued at $157,000 after acquiring an additional 3,578 shares during the last quarter. Bank of Montreal Can increased its position in shares of Marten Transport by 85.6% in the second quarter. Bank of Montreal Can now owns 6,685 shares of the transportation company’s stock valued at $172,000 after acquiring an additional 3,083 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new stake in shares of Marten Transport in the first quarter valued at about $142,000. Institutional investors own 47.45% of the company’s stock.
About Marten Transport
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment.
Further Reading: Outperform Rating
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