Wall Street analysts expect Marten Transport, Ltd (NASDAQ:MRTN) to report $208.40 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Marten Transport’s earnings, with the lowest sales estimate coming in at $205.70 million and the highest estimate coming in at $211.30 million. Marten Transport posted sales of $197.02 million in the same quarter last year, which would indicate a positive year over year growth rate of 5.8%. The business is expected to announce its next earnings report on Tuesday, July 16th.
According to Zacks, analysts expect that Marten Transport will report full year sales of $840.73 million for the current fiscal year, with estimates ranging from $835.90 million to $847.40 million. For the next year, analysts anticipate that the firm will report sales of $883.47 million, with estimates ranging from $874.60 million to $901.20 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Marten Transport.
Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings results on Tuesday, April 16th. The transportation company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.01. The business had revenue of $199.00 million for the quarter, compared to analysts’ expectations of $196.60 million. Marten Transport had a return on equity of 10.23% and a net margin of 7.28%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS.
A number of equities analysts have commented on MRTN shares. ValuEngine raised Marten Transport from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. BidaskClub raised Marten Transport from a “sell” rating to a “hold” rating in a research note on Saturday, January 19th. Zacks Investment Research cut Marten Transport from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Finally, Stifel Nicolaus set a $18.00 price target on Marten Transport and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $19.67.
Marten Transport stock traded up $0.45 during trading hours on Wednesday, reaching $21.10. The company had a trading volume of 311,100 shares, compared to its average volume of 241,406. The stock has a market capitalization of $1.11 billion, a P/E ratio of 21.10 and a beta of 1.52. Marten Transport has a 12-month low of $15.39 and a 12-month high of $24.55.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.03 dividend. This is a boost from Marten Transport’s previous quarterly dividend of $0.03. This represents a $0.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Thursday, March 14th. Marten Transport’s payout ratio is 12.00%.
In other news, CEO Randolph L. Marten sold 44,959 shares of Marten Transport stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $19.20, for a total value of $863,212.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert L. Demorest sold 6,250 shares of Marten Transport stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $18.05, for a total value of $112,812.50. Following the completion of the sale, the director now owns 20,666 shares in the company, valued at $373,021.30. The disclosure for this sale can be found here. Insiders sold a total of 191,066 shares of company stock worth $3,623,237 over the last ninety days. Insiders own 23.00% of the company’s stock.
Several hedge funds have recently modified their holdings of MRTN. Bank of Montreal Can grew its position in shares of Marten Transport by 33.4% in the 4th quarter. Bank of Montreal Can now owns 4,767 shares of the transportation company’s stock worth $77,000 after buying an additional 1,193 shares during the last quarter. Whittier Trust Co. bought a new stake in shares of Marten Transport in the 4th quarter worth approximately $91,000. Metropolitan Life Insurance Co. NY grew its position in shares of Marten Transport by 296.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 12,738 shares of the transportation company’s stock worth $206,000 after buying an additional 9,527 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Marten Transport in the 4th quarter worth approximately $207,000. Finally, Verition Fund Management LLC bought a new stake in shares of Marten Transport in the 3rd quarter worth approximately $236,000. Hedge funds and other institutional investors own 69.45% 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.
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