Equities analysts forecast that Martin Midstream Partners L.P. (NASDAQ:MMLP) will announce earnings per share (EPS) of $0.22 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Martin Midstream Partners’ earnings, with estimates ranging from $0.19 to $0.25. Martin Midstream Partners reported earnings of $0.48 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 54.2%. The firm is scheduled to announce its next earnings report on Wednesday, February 13th.
According to Zacks, analysts expect that Martin Midstream Partners will report full year earnings of $0.13 per share for the current year, with EPS estimates ranging from $0.12 to $0.14. For the next year, analysts forecast that the firm will report earnings of $0.73 per share, with EPS estimates ranging from $0.60 to $0.88. Zacks’ earnings per share averages are a mean average based on a survey of analysts that cover Martin Midstream Partners.
Martin Midstream Partners (NASDAQ:MMLP) last released its earnings results on Wednesday, October 24th. The pipeline company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.18). Martin Midstream Partners had a return on equity of 5.03% and a net margin of 6.19%. The business had revenue of $219.05 million for the quarter, compared to the consensus estimate of $226.83 million.
MMLP has been the subject of several recent analyst reports. Zacks Investment Research upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Wednesday, October 31st. BidaskClub upgraded Martin Midstream Partners from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Royal Bank of Canada restated a “hold” rating and set a $17.00 target price on shares of Martin Midstream Partners in a research note on Monday, July 16th. ValuEngine upgraded Martin Midstream Partners from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Raymond James cut their target price on Martin Midstream Partners from $17.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Martin Midstream Partners currently has a consensus rating of “Hold” and an average target price of $15.83.
Institutional investors and hedge funds have recently made changes to their positions in the company. Endurance Wealth Management Inc. lifted its stake in shares of Martin Midstream Partners by 106.1% in the 2nd quarter. Endurance Wealth Management Inc. now owns 13,600 shares of the pipeline company’s stock valued at $188,000 after acquiring an additional 7,000 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Martin Midstream Partners by 26.4% in the 2nd quarter. Bank of America Corp DE now owns 31,454 shares of the pipeline company’s stock valued at $434,000 after acquiring an additional 6,564 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Martin Midstream Partners in the 3rd quarter valued at $449,000. ING Groep NV bought a new position in shares of Martin Midstream Partners in the 3rd quarter valued at $457,000. Finally, California Public Employees Retirement System lifted its stake in shares of Martin Midstream Partners by 10.8% in the 2nd quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock valued at $597,000 after acquiring an additional 4,226 shares during the last quarter. Institutional investors own 28.91% of the company’s stock.
NASDAQ MMLP traded up $0.17 on Monday, hitting $12.52. 205,299 shares of the company’s stock were exchanged, compared to its average volume of 223,408. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.28 and a quick ratio of 1.03. Martin Midstream Partners has a 52 week low of $10.65 and a 52 week high of $16.95. The stock has a market capitalization of $487.95 million, a PE ratio of 28.45, a PEG ratio of 55.56 and a beta of 1.05.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 15.97%. The ex-dividend date is Tuesday, November 6th. Martin Midstream Partners’s payout ratio is 454.55%.
About Martin Midstream Partners
Martin Midstream Partners L.P. collects, transports, stores, and markets petroleum products and by-products in the United States Gulf Coast region. The company's Terminalling and Storage segment owns or operates 22 marine shore-based terminal facilities and 16 specialty terminal facilities that provide storage, refining, blending, packaging, and handling services for producers and suppliers of petroleum products and by-products.
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