Marten Transport (NASDAQ:MRTN) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Marten Transport reported quarterly earnings of $0.07 per share, missing analyst estimates by $0.01. Revenue also came in below expectations at $223.54 million versus the $227.10 million consensus.
• The stock traded lower after the report, falling to $16.88 during Thursday trading. The company has a market value of about $1.38 billion and a dividend yield of 1.4% based on its recently paid quarterly dividend.
• Analyst views remain mixed, with one strong-buy rating and three hold ratings, leaving the consensus at Moderate Buy. Institutional investors still hold a large majority of the shares, about 69.12%.

Marten Transport (NASDAQ:MRTN - Get Free Report) posted its earnings results on Thursday. The transportation company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01), FiscalAI reports. Marten Transport had a return on equity of 1.89% and a net margin of 1.68%.The company had revenue of $223.54 million for the quarter, compared to the consensus estimate of $227.10 million.

Marten Transport Price Performance

Shares of NASDAQ MRTN traded down $0.44 during midday trading on Thursday, reaching $16.88. 919,138 shares of the stock were exchanged, compared to its average volume of 842,502. Marten Transport has a 12 month low of $9.35 and a 12 month high of $18.48. The business has a 50-day simple moving average of $17.23 and a two-hundred day simple moving average of $14.72. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 88.85 and a beta of 0.93.

Marten Transport Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $0.06 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.24 annualized dividend and a yield of 1.4%. Marten Transport's dividend payout ratio (DPR) is 126.32%.

Hedge Funds Weigh In On Marten Transport

Several hedge funds have recently made changes to their positions in MRTN. Invesco Ltd. raised its holdings in Marten Transport by 17.3% during the fourth quarter. Invesco Ltd. now owns 489,394 shares of the transportation company's stock worth $5,569,000 after acquiring an additional 72,262 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Marten Transport by 84.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,650 shares of the transportation company's stock valued at $281,000 after purchasing an additional 11,311 shares during the last quarter. VARCOV Co. purchased a new stake in Marten Transport in the 4th quarter worth about $435,000. Twinbeech Capital LP raised its position in shares of Marten Transport by 24.1% in the fourth quarter. Twinbeech Capital LP now owns 16,534 shares of the transportation company's stock valued at $188,000 after purchasing an additional 3,206 shares during the period. Finally, Polymer Capital Management US LLC boosted its holdings in shares of Marten Transport by 73.9% in the fourth quarter. Polymer Capital Management US LLC now owns 29,823 shares of the transportation company's stock worth $339,000 after acquiring an additional 12,674 shares during the period. 69.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on MRTN shares. Robert W. Baird raised shares of Marten Transport to a "strong-buy" rating in a report on Wednesday, April 1st. Weiss Ratings restated a "hold (c-)" rating on shares of Marten Transport in a research report on Tuesday, June 30th. Finally, Stephens upgraded Marten Transport to a "hold" rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

About Marten Transport

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.

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