Analysts expect Marten Transport, Ltd. (NASDAQ:MRTN – Get Rating) announces sales of $262.30 million for the current quarter, reports Zacks Investment Research. Two analysts provided earnings estimates for Marten Transport. The highest sales estimate is $265.00 million and the lowest is $259.60 million. Marten Transport recorded sales of $223.05 million in the same quarter last year, which would indicate a positive growth rate of 17.6% year over year. The company is expected to announce its next quarterly earnings report on Monday, January 1.
On average, analysts expect Marten Transport to report annual revenue of $1.10 billion in the current fiscal year. For the next fiscal year, analysts expect the company to post sales of $1.15 billion, with estimates ranging from $1.14 billion to $1.17 billion. Zacks Investment Research sales averages are an average average based on a survey of sell-side research analysts who follow Marten Transport.
Marten Transport (NASDAQ:MRTN – Get Rating) last released its quarterly results on Tuesday, January 25. The transportation company reported earnings per share (EPS) of $0.30 for the quarter, beating the Zacks consensus estimate of $0.27 by $0.03. The company posted revenue of $266.88 million in the quarter, compared to $263.20 million expected by analysts. Marten Transport had a return on equity of 13.29% and a net margin of 8.77%. The company’s revenue for the quarter increased by 17.4% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.24.
A number of research analysts have commented on the company. Zacks Investment Research downgraded Marten Transport from a “buy” rating to a “hold” rating in a research report on Wednesday. Stephens raised his price target on Marten Transport from $21.00 to $22.00 in a Friday, April 1 research report. Finally, StockNews.com began covering Marten Transport shares in a research note on Thursday, March 31. They issued a “buy” rating on the stock.
Shares of Marten Transport opened at $16.38 on Friday. The company has a 50-day simple moving average of $17.76 and a 200-day simple moving average of $16.91. Marten Transport has a fifty-two week minimum of $14.72 and a fifty-two week maximum of $19.94. The company has a market capitalization of $1.36 billion, a P/E ratio of 15.75 and a beta of 0.86.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31. Investors of record on Thursday, March 17 received a dividend of $0.06 per share. The ex-dividend date was Wednesday, March 16. This is a boost from Marten Transport’s previous quarterly dividend of $0.04. This represents a dividend of $0.24 on an annualized basis and a dividend yield of 1.47%. Marten Transport’s payout ratio is 23.08%.
Separately, Chief Financial Officer James J. Hinnendael sold 6,350 shares of the company in a trade dated Thursday, March 10. The stock was sold at an average price of $18.38, for a total transaction of $116,713.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, director Thomas J. Winkel sold 3,000 shares of the company in a trade that took place on Thursday, March 17. The shares were sold at an average price of $19.93, for a total value of $59,790.00. The disclosure of this sale can be found here. Insiders have sold 29,324 shares of the company worth $526,179 in the past three months. Insiders hold 22.50% of the shares of the company.
A number of institutional investors and hedge funds have recently changed their positions in the company. William Blair Investment Management LLC increased its equity stake in Marten Transport to 49,528.0% during the third quarter. William Blair Investment Management LLC now owns 1,960,305 shares of the transportation company worth $30,757,000 after acquiring an additional 1,956,355 shares during the period. FMR LLC increased its stake in the shares of Marten Transport by 149.8% in the 1st quarter. FMR LLC now owns 917,248 shares of the transportation company valued at $16,354,000 after purchasing an additional 550,088 shares during the period. BlackRock Inc. increased its holdings of Marten Transport shares by 5.3% in the third quarter. BlackRock Inc. now owns 10,129,887 shares of the transportation company valued at $158,938,000 after buying an additional 509,222 shares last quarter. State Street Corp increased its position in Marten Transport shares by 19.5% during the fourth quarter. State Street Corp now owns 2,621,050 shares of the transportation company worth $44,977,000 after purchasing an additional 427,027 shares during the period. Finally, Goldman Sachs Group Inc. increased its equity stake in Marten Transport by 20.0% during the third quarter. Goldman Sachs Group Inc. now owns 1,872,855 shares of the transportation company worth $29,385,000 after buying 311,945 additional shares last quarter. 68.64% of the shares are currently held by hedge funds and other institutional investors.
About Marten Transport (Get a rating)
Martin 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 Full Truckload segment transports food and other packaged consumer goods that require a temperature-controlled or insulated environment.
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