Marten Transport (NASDAQ:MRTN) Announces Earnings Results, Beats Estimates By $0.02 EPS

Marten Transport (NASDAQ:MRTN) announced its quarterly earnings data on Tuesday. The transportation company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02, FiscalAI reports. Marten Transport had a net margin of 2.14% and a return on equity of 2.52%. The company had revenue of $210.11 million for the quarter, compared to the consensus estimate of $207.22 million. During the same period in the prior year, the firm posted $0.07 EPS. Marten Transport’s revenue for the quarter was down 8.8% on a year-over-year basis.

Marten Transport Stock Performance

Marten Transport stock traded down $0.02 during midday trading on Tuesday, hitting $12.46. 642,158 shares of the company’s stock were exchanged, compared to its average volume of 1,011,827. The firm has a 50-day moving average of $11.50 and a two-hundred day moving average of $11.40. Marten Transport has a 12 month low of $9.35 and a 12 month high of $16.95. The company has a market cap of $1.02 billion, a PE ratio of 51.92 and a beta of 0.87.

Marten Transport Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 29th. Shareholders of record on Monday, December 15th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Monday, December 15th. Marten Transport’s payout ratio is 100.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MRTN shares. Zacks Research cut shares of Marten Transport from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Marten Transport in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $19.00.

Institutional Trading of Marten Transport

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Marten Transport by 18.7% during the 1st quarter. AQR Capital Management LLC now owns 61,335 shares of the transportation company’s stock worth $842,000 after purchasing an additional 9,654 shares during the period. Royal Bank of Canada raised its position in Marten Transport by 12.0% during the first quarter. Royal Bank of Canada now owns 17,028 shares of the transportation company’s stock valued at $234,000 after acquiring an additional 1,826 shares in the last quarter. Entropy Technologies LP acquired a new position in Marten Transport in the third quarter valued at approximately $209,000. Brooklyn Investment Group lifted its holdings in Marten Transport by 276.7% in the third quarter. Brooklyn Investment Group now owns 18,325 shares of the transportation company’s stock valued at $195,000 after acquiring an additional 13,460 shares during the period. Finally, Boothbay Fund Management LLC purchased a new stake in Marten Transport in the 3rd quarter worth approximately $189,000. Hedge funds and other institutional investors own 69.12% of the company’s stock.

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.