Marten Transport (NASDAQ:MRTN) Releases Quarterly Earnings Results

Key Points

• Marten Transport reported quarterly earnings of $0.03 per share, which missed estimates by $0.04, leading to a net margin of 2.27% and a return on equity of 2.72%.
• The company has declared a quarterly dividend of $0.06 per share, with an annualized yield of 2.2%, although its dividend payout ratio currently stands at 92.31%.
• Recent analyst ratings reflect a mixed outlook, with Marten Transport receiving a "sell" rating from multiple analysts while holding an average target price of $19.00.

Marten Transport (NASDAQ:MRTN - Get Free Report) posted its quarterly earnings data on Thursday. The transportation company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01), Zacks reports. Marten Transport had a return on equity of 2.72% and a net margin of 2.27%.The firm's quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.05 EPS.

Marten Transport Trading Down 0.7%

Shares of Marten Transport stock traded down $0.07 during mid-day trading on Thursday, hitting $10.69. 821,528 shares of the stock were exchanged, compared to its average volume of 537,639. The stock has a market capitalization of $871.45 million, a price-to-earnings ratio of 41.12 and a beta of 0.95. Marten Transport has a twelve month low of $10.35 and a twelve month high of $18.63. The company has a 50-day simple moving average of $11.28 and a 200 day simple moving average of $12.43.

Marten Transport Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th were paid a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $0.24 dividend on an annualized basis and a yield of 2.2%. Marten Transport's dividend payout ratio is presently 92.31%.

Hedge Funds Weigh In On Marten Transport

A number of large investors have recently modified their holdings of MRTN. Arrowstreet Capital Limited Partnership increased its stake in shares of Marten Transport by 43.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 356,397 shares of the transportation company's stock worth $4,630,000 after buying an additional 107,935 shares during the last quarter. Bank of America Corp DE grew its stake in Marten Transport by 2.9% during the 2nd quarter. Bank of America Corp DE now owns 289,662 shares of the transportation company's stock valued at $3,763,000 after acquiring an additional 8,223 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in Marten Transport by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 196,937 shares of the transportation company's stock valued at $2,558,000 after acquiring an additional 13,538 shares during the last quarter. Hudson Bay Capital Management LP boosted its holdings in shares of Marten Transport by 69.7% during the 2nd quarter. Hudson Bay Capital Management LP now owns 100,118 shares of the transportation company's stock worth $1,301,000 after buying an additional 41,118 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Marten Transport by 2.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 77,077 shares of the transportation company's stock valued at $1,001,000 after purchasing an additional 2,193 shares during the period. 69.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MRTN has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Marten Transport from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Marten Transport in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $19.00.

Marten Transport Company Profile

Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United State, Mexico, and Canada. The company operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment, as well as dry freight; and regional short-haul and medium-to-long-haul full-load transportation services.