Marten Transport (NASDAQ:MRTN) Posts Earnings Results, Hits Expectations

Marten Transport (NASDAQ:MRTN) announced its earnings results on Thursday. The transportation company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12, Yahoo Finance reports. The firm had revenue of $249.67 million for the quarter, compared to analysts’ expectations of $262.77 million. Marten Transport had a net margin of 5.31% and a return on equity of 7.68%. The business’s revenue was down 16.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS.

Marten Transport Price Performance

Shares of NASDAQ:MRTN opened at $16.56 on Friday. The firm has a market capitalization of $1.35 billion, a PE ratio of 23.32 and a beta of 0.79. The business has a 50 day simple moving average of $18.38 and a two-hundred day simple moving average of $18.98. Marten Transport has a 1 year low of $15.33 and a 1 year high of $23.38.

Marten Transport Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Thursday, March 14th. Marten Transport’s dividend payout ratio (DPR) is currently 33.80%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Vertical Research raised Marten Transport from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, January 10th. Stephens cut their target price on Marten Transport from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday.

Institutional Investors Weigh In On Marten Transport

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC bought a new stake in Marten Transport during the 1st quarter valued at about $47,000. International Assets Investment Management LLC increased its position in shares of Marten Transport by 1,997.7% during the fourth quarter. International Assets Investment Management LLC now owns 2,706 shares of the transportation company’s stock worth $57,000 after acquiring an additional 2,577 shares during the period. Captrust Financial Advisors increased its position in shares of Marten Transport by 108.6% during the first quarter. Captrust Financial Advisors now owns 3,790 shares of the transportation company’s stock worth $67,000 after acquiring an additional 1,973 shares during the period. Point72 Middle East FZE bought a new stake in shares of Marten Transport during the fourth quarter valued at approximately $71,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Marten Transport in the first quarter valued at approximately $104,000. 69.12% of the stock is currently owned by hedge funds and other institutional investors.

About Marten Transport

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.