KeyCorp Analysts Boost Earnings Estimates for Marten Transport, Ltd (NASDAQ:MRTN)
Marten Transport, Ltd (NASDAQ:MRTN) – KeyCorp raised their Q2 2020 earnings per share (EPS) estimates for Marten Transport in a research note issued on Monday, July 6th. KeyCorp analyst T. Fowler now expects that the transportation company will earn $0.24 per share for the quarter, up from their previous estimate of $0.22. KeyCorp currently has a “Overweight” rating and a $29.00 target price on the stock. KeyCorp also issued estimates for Marten Transport’s Q3 2020 earnings at $0.25 EPS, Q4 2020 earnings at $0.27 EPS, FY2020 earnings at $1.00 EPS and FY2021 earnings at $1.15 EPS.
Marten Transport (NASDAQ:MRTN) last released its quarterly earnings results on Thursday, April 16th. The transportation company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $218.60 million during the quarter, compared to analyst estimates of $207.55 million. Marten Transport had a net margin of 7.10% and a return on equity of 10.24%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share.
Marten Transport stock opened at $25.75 on Thursday. The company has a 50-day simple moving average of $24.85 and a 200-day simple moving average of $22.22. The firm has a market capitalization of $1.44 billion, a P/E ratio of 22.99 and a beta of 0.99. Marten Transport has a one year low of $16.01 and a one year high of $26.97.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can grew its position in Marten Transport by 292.2% during the 4th quarter. Bank of Montreal Can now owns 64,812 shares of the transportation company’s stock worth $1,393,000 after purchasing an additional 48,286 shares in the last quarter. Wellington Management Group LLP grew its position in Marten Transport by 15.8% during the 1st quarter. Wellington Management Group LLP now owns 1,078,607 shares of the transportation company’s stock worth $22,133,000 after purchasing an additional 147,263 shares in the last quarter. Morgan Stanley grew its position in Marten Transport by 133.7% during the 1st quarter. Morgan Stanley now owns 486,239 shares of the transportation company’s stock worth $9,976,000 after purchasing an additional 278,141 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Marten Transport by 5.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 32,542 shares of the transportation company’s stock worth $668,000 after purchasing an additional 1,624 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Marten Transport by 16.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 519,046 shares of the transportation company’s stock worth $11,155,000 after purchasing an additional 71,772 shares in the last quarter. Hedge funds and other institutional investors own 71.14% of the company’s stock.
In other Marten Transport news, CEO Randolph L. Marten sold 14,625 shares of Marten Transport stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $23.06, for a total transaction of $337,252.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Timothy M. Kohl sold 25,414 shares of Marten Transport stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $22.94, for a total transaction of $582,997.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,879 shares of company stock valued at $2,811,315. Corporate insiders own 22.80% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, June 15th. Marten Transport’s dividend payout ratio is presently 14.41%.
Marten Transport Company Profile
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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