Marten Transport (NASDAQ:MRTN) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

by · The Cerbat Gem

Marten Transport (NASDAQ:MRTN – Get Free Report) released its earnings results on Tuesday. The transportation company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01, FiscalAI reports. The firm had revenue of $210.11 million for the quarter, compared to analysts’ expectations of $207.22 million. Marten Transport had a return on equity of 2.52% and a net margin of 2.14%.

Marten Transport Price Performance

NASDAQ MRTN traded down $0.02 during mid-day trading on Tuesday, hitting $12.46. The stock had a trading volume of 642,056 shares, compared to its average volume of 997,156. Marten Transport has a twelve month low of $9.35 and a twelve month high of $16.95. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 51.92 and a beta of 0.87. The firm’s 50 day moving average is $11.50 and its 200 day moving average is $11.40.

Marten Transport Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Monday, December 15th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, December 15th. Marten Transport’s payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

MRTN has been the subject of a number of recent research reports. Zacks Research lowered shares of Marten Transport from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Weiss Ratings restated a “sell (d)” rating on shares of Marten Transport in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Marten Transport has a consensus rating of “Reduce” and an average target price of $19.00.

Check Out Our Latest Analysis on MRTN

Hedge Funds Weigh In On Marten Transport

A number of institutional investors have recently bought and sold shares of MRTN. AQR Capital Management LLC boosted its holdings in Marten Transport by 18.7% in the first quarter. AQR Capital Management LLC now owns 61,335 shares of the transportation company’s stock valued at $842,000 after purchasing an additional 9,654 shares during the period. Royal Bank of Canada raised its position in Marten Transport by 12.0% in the 1st quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company’s stock valued at $234,000 after purchasing an additional 1,826 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Marten Transport in the 3rd quarter valued at about $209,000. Brooklyn Investment Group boosted its stake in shares of Marten Transport by 276.7% in the 3rd quarter. Brooklyn Investment Group now owns 18,325 shares of the transportation company’s stock valued at $195,000 after buying an additional 13,460 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Marten Transport during the third quarter worth about $189,000. 69.12% of the stock is owned by hedge funds and other institutional investors.

About Marten Transport

(Get Free Report)

Marten Transport, Inc is a North American transportation services provider offering temperature-controlled and dry van truckload services. Founded in 1946 and headquartered in Mondovi, Wisconsin, the company specializes in full truckload, dedicated contract carriage, intermodal and port drayage solutions. Its core focus on refrigerated and produce freight has made it a key partner for food manufacturers, retailers and other shippers requiring strict temperature management.

The company maintains a modern fleet of tractors and trailers equipped with advanced telematics, electronic logging devices and continuous temperature monitoring.

See Also