Marten Transport (NASDAQ:MRTN) Posts Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Marten Transport reported quarterly EPS of $0.04, missing the $0.07 consensus estimate by $0.03. Revenue was $223.23 million, below expectations of $230.37 million.
• Shares fell to $12.30 during Thursday trading, while the stock remains well below its 50-day and 200-day moving averages. Marten Transport has a market capitalization of approximately $1 billion.
• The company paid a quarterly dividend of $0.06 per share, equivalent to a 2.0% annualized yield. Analysts maintain a consensus “Moderate Buy” rating with a $16 price target, despite one recent target reduction.

Marten Transport (NASDAQ:MRTN - Get Free Report) issued its earnings results on Thursday. The transportation company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03), FiscalAI reports. Marten Transport had a return on equity of 1.65% and a net margin of 1.47%. The firm had revenue of $223.23 million during the quarter, compared to the consensus estimate of $230.37 million.

Marten Transport Stock Performance

Shares of MRTN traded down $0.36 during midday trading on Thursday, hitting $12.30. 1,077,682 shares of the company traded hands, compared to its average volume of 801,385. The firm has a 50 day moving average of $13.68 and a 200-day moving average of $15.26. Marten Transport has a 52 week low of $9.35 and a 52 week high of $18.48. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 72.35 and a beta of 1.00.

Marten Transport Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, September 16th. Marten Transport's dividend payout ratio is 141.18%.

Wall Street Analyst Weigh In

MRTN has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Marten Transport in a research report on Friday, September 25th. Stephens lowered their price target on Marten Transport from $18.00 to $16.00 and set an "equal weight" rating on the stock in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

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.

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