Marten Transport (NASDAQ:MRTN) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Marten Transport (NASDAQ:MRTN) issued its earnings results on Thursday. The transportation company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.02), FiscalAI reports. The business had revenue of $223.23 million for the quarter, compared to the consensus estimate of $230.37 million. Marten Transport had a return on equity of 1.74% and a net margin of 1.55%. During the same quarter in the previous year, the business posted $0.03 earnings per share.

Marten Transport Stock Performance

NASDAQ MRTN opened at $11.81 on Tuesday. The firm’s 50 day moving average price is $13.50 and its two-hundred day moving average price is $14.48. Marten Transport has a twelve month low of $9.35 and a twelve month high of $18.48. The stock has a market cap of $964.40 million, a price-to-earnings ratio of 65.61 and a beta of 1.00.

Marten Transport Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.0%. The ex-dividend date was Wednesday, September 16th. Marten Transport’s payout ratio is presently 133.33%.

Analysts Set New Price Targets

MRTN has been the topic of a number of recent analyst reports. Stephens cut their target price on Marten Transport from $15.00 to $12.50 and set an “equal weight” rating on the stock in a research report on Friday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Marten Transport in a research report on Friday, September 25th. Finally, Zacks Research cut Marten Transport from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

About Marten Transport

Marten Transport, Inc is a transportation and logistics company headquartered in Mondovi, Wisconsin. Founded in 1946, the company began as a regional carrier and has developed into a provider of temperature-sensitive and dry freight transportation services.

The company’s operations include refrigerated and dry truck-based transportation, dedicated transportation, intermodal services, and brokerage. Marten Transport serves customers across a range of industries, including food and consumer products, using refrigerated trailers, dry vans, intermodal equipment, and related logistics capabilities.

Marten Transport primarily serves the contiguous United States and also provides transportation services involving Canada and Mexico.