Marten Transport (NASDAQ:MRTN) Shares Gap Down After Earnings Miss

Key Points

• Marten Transport shares fell sharply after the company reported quarterly EPS of $0.04, below the $0.07 consensus estimate, while revenue of $223.23 million also missed expectations.
• The company declared a quarterly dividend of $0.06 per share, equivalent to an annualized $0.24 payout and a 2.1% yield; its payout ratio stands at 141.18%.
• Analyst sentiment remains mixed: Stephens cut its price target to $12.50 and maintained an “equal weight” rating, while the broader consensus is “Moderate Buy” with a $12.50 target.

Marten Transport, Ltd. (NASDAQ:MRTN - Get Free Report)'s share price gapped down before the market opened on Friday following a dissappointing earnings announcement. The stock had previously closed at $12.30, but opened at $10.94. Marten Transport shares last traded at $11.68, with a volume of 219,728 shares trading hands.

The transportation company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Marten Transport had a return on equity of 1.65% and a net margin of 1.47%. The company had revenue of $223.23 million for the quarter, compared to analyst estimates of $230.37 million.

Marten Transport Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, September 16th. Marten Transport's dividend payout ratio (DPR) is presently 141.18%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stephens lowered their price target on Marten Transport from $15.00 to $12.50 and set an "equal weight" rating on the stock in a report on Friday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Marten Transport in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Marten Transport currently has an average rating of "Moderate Buy" and a consensus target price of $12.50.

Hedge Funds Weigh In On Marten Transport

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. grew its position in shares of Marten Transport by 79.1% in the first quarter. Sei Investments Co. now owns 220,314 shares of the transportation company's stock valued at $2,893,000 after purchasing an additional 97,270 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Marten Transport during the 2nd quarter worth approximately $2,305,000. Hsbc Holdings PLC acquired a new position in shares of Marten Transport during the 2nd quarter worth approximately $761,000. State Street Corp raised its position in shares of Marten Transport by 4.9% during the 2nd quarter. State Street Corp now owns 2,723,602 shares of the transportation company's stock worth $47,254,000 after purchasing an additional 126,055 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Marten Transport by 3.1% during the 2nd quarter. BlackRock Inc. now owns 10,058,930 shares of the transportation company's stock worth $174,522,000 after purchasing an additional 298,912 shares during the last quarter. Institutional investors and hedge funds own 69.12% of the company's stock.

Marten Transport Stock Performance

The company has a 50-day moving average of $13.62 and a 200-day moving average of $15.24. The stock has a market capitalization of $952.48 million, a price-to-earnings ratio of 68.82 and a beta of 1.00.

Marten Transport Company Profile

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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