Marten Transport, Ltd. (NASDAQ:MRTN) – Investment analysts at Seaport Global Securities reduced their Q3 2017 EPS estimates for shares of Marten Transport in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst R. Wood now forecasts that the transportation company will earn $0.13 per share for the quarter, down from their prior forecast of $0.16. Seaport Global Securities also issued estimates for Marten Transport’s Q4 2017 earnings at $0.15 EPS, Q1 2019 earnings at $0.18 EPS, Q2 2019 earnings at $0.21 EPS, Q3 2019 earnings at $0.21 EPS and FY2019 earnings at $0.83 EPS.
Marten Transport (NASDAQ:MRTN) last announced its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. Marten Transport had a return on equity of 7.72% and a net margin of 4.96%. The firm had revenue of $171.51 million for the quarter, compared to analysts’ expectations of $176.08 million. During the same period last year, the firm earned $0.26 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “Q3 2017 EPS Estimates for Marten Transport, Ltd. Cut by Seaport Global Securities (MRTN)” was first posted by Stock Observer and is the sole property of of Stock Observer. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.thestockobserver.com/2017/10/13/q3-2017-eps-estimates-for-marten-transport-ltd-cut-by-seaport-global-securities-mrtn.html.
Several other analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Marten Transport from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Thursday, September 7th. ValuEngine upgraded shares of Marten Transport from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. BidaskClub cut shares of Marten Transport from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Stifel Nicolaus restated a “hold” rating and set a $15.00 target price on shares of Marten Transport in a research report on Sunday, October 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Marten Transport has a consensus rating of “Hold” and an average price target of $19.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Marten Transport by 14.7% during the 1st quarter. Wellington Management Group LLP now owns 1,841,229 shares of the transportation company’s stock valued at $43,177,000 after buying an additional 235,974 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Marten Transport by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,261,440 shares of the transportation company’s stock valued at $34,563,000 after buying an additional 28,574 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Marten Transport by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,232,898 shares of the transportation company’s stock valued at $33,782,000 after buying an additional 84,766 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Marten Transport by 46.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 980,124 shares of the transportation company’s stock valued at $26,856,000 after buying an additional 309,413 shares in the last quarter. Finally, Granite Investment Partners LLC raised its position in shares of Marten Transport by 71.2% during the 2nd quarter. Granite Investment Partners LLC now owns 795,922 shares of the transportation company’s stock valued at $13,085,000 after buying an additional 331,098 shares in the last quarter. Hedge funds and other institutional investors own 42.36% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.51%. This is a boost from Marten Transport’s previous quarterly dividend of $0.02. The ex-dividend date was Thursday, September 14th. Marten Transport’s dividend payout ratio is currently 15.97%.
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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