Marten Transport, Ltd. (NASDAQ:MRTN) – Equities research analysts at Seaport Global Securities lowered their Q3 2017 earnings per share estimates for Marten Transport in a research note issued to investors on Friday. Seaport Global Securities analyst R. Wood now forecasts that the transportation company will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.16. Seaport Global Securities also issued estimates for Marten Transport’s Q4 2017 earnings at $0.16 EPS, Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $0.73 EPS.
Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, July 20th. The transportation company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $171.51 million during the quarter, compared to analysts’ expectations of $176.08 million. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. Marten Transport’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS.
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A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Stifel Nicolaus lifted their price target on shares of Marten Transport from $13.20 to $15.00 and gave the company a “hold” rating in a research report on Tuesday, April 25th. Finally, ValuEngine upgraded shares of Marten Transport from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th.
Shares of Marten Transport (NASDAQ MRTN) opened at 16.35 on Monday. The stock has a market capitalization of $891.30 million, a price-to-earnings ratio of 26.29 and a beta of 1.27. Marten Transport has a 1-year low of $11.22 and a 1-year high of $17.90. The firm’s 50-day moving average price is $16.30 and its 200 day moving average price is $14.78.
A number of hedge funds have recently added to or reduced their stakes in MRTN. Comerica Bank boosted its stake in Marten Transport by 5.2% in the fourth quarter. Comerica Bank now owns 24,470 shares of the transportation company’s stock valued at $584,000 after buying an additional 1,214 shares during the last quarter. State Street Corp boosted its stake in Marten Transport by 12.7% in the fourth quarter. State Street Corp now owns 609,214 shares of the transportation company’s stock valued at $14,193,000 after buying an additional 68,704 shares during the last quarter. FMR LLC purchased a new stake in Marten Transport during the fourth quarter valued at approximately $2,980,000. Renaissance Technologies LLC purchased a new stake in Marten Transport during the fourth quarter valued at approximately $448,000. Finally, Thrivent Financial for Lutherans boosted its stake in Marten Transport by 6.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 12,540 shares of the transportation company’s stock valued at $292,000 after buying an additional 770 shares during the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.
In other Marten Transport news, Chairman Randolph L. Marten sold 50,000 shares of Marten Transport stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $25.51, for a total value of $1,275,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John H. Turner sold 4,000 shares of Marten Transport stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $25.59, for a total transaction of $102,360.00. The disclosure for this sale can be found here. 23.00% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were given a dividend of $0.015 per share. The ex-dividend date was Wednesday, June 14th. This represents a $0.06 annualized dividend and a dividend yield of 0.37%. Marten Transport’s dividend payout ratio is currently 9.58%.
About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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