$261.71 Million in Sales Expected for Martin Midstream Partners L.P. (MMLP) This Quarter
Analysts expect Martin Midstream Partners L.P. (NASDAQ:MMLP) to report sales of $261.71 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Martin Midstream Partners’ earnings, with the highest sales estimate coming in at $282.93 million and the lowest estimate coming in at $249.10 million. Martin Midstream Partners reported sales of $253.33 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.3%. The firm is expected to report its next quarterly earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that Martin Midstream Partners will report full year sales of $261.71 million for the current fiscal year, with estimates ranging from $895.00 million to $1.09 billion. For the next financial year, analysts expect that the company will post sales of $976.10 million per share, with estimates ranging from $878.03 million to $1.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Martin Midstream Partners.
A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Martin Midstream Partners from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. BidaskClub upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating in a report on Friday, January 26th. ValuEngine lowered Martin Midstream Partners from a “hold” rating to a “sell” rating in a report on Thursday. B. Riley set a $18.00 target price on Martin Midstream Partners and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, Stifel Nicolaus set a $15.00 target price on Martin Midstream Partners and gave the company a “hold” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Martin Midstream Partners presently has a consensus rating of “Hold” and a consensus target price of $19.00.
Shares of Martin Midstream Partners (NASDAQ:MMLP) opened at $13.75 on Friday. The stock has a market capitalization of $528.36, a price-to-earnings ratio of 30.56 and a beta of 1.57. Martin Midstream Partners has a 1-year low of $12.70 and a 1-year high of $20.55. The company has a quick ratio of 1.08, a current ratio of 1.81 and a debt-to-equity ratio of 2.72.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Wednesday, February 7th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 14.55%. The ex-dividend date was Tuesday, February 6th. Martin Midstream Partners’s dividend payout ratio (DPR) is presently 444.44%.
ILLEGAL ACTIVITY NOTICE: This piece was originally published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.dailypolitical.com/2018/03/04/261-71-million-in-sales-expected-for-martin-midstream-partners-l-p-mmlp-this-quarter.html.
About Martin Midstream Partners
Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Martin Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Martin Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.