Brokerages expect Martin Marietta Materials, Inc. (NYSE:MLM) to post $850.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Martin Marietta Materials’ earnings, with estimates ranging from $804.00 million to $913.00 million. Martin Marietta Materials posted sales of $802.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.1%. The firm is expected to announce its next quarterly earnings results on Tuesday, May 14th.
On average, analysts expect that Martin Marietta Materials will report full-year sales of $4.40 billion for the current year, with estimates ranging from $4.29 billion to $4.59 billion. For the next fiscal year, analysts forecast that the firm will report sales of $4.69 billion, with estimates ranging from $4.45 billion to $4.90 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last announced its quarterly earnings results on Tuesday, February 12th. The construction company reported $1.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.21). Martin Marietta Materials had a net margin of 11.07% and a return on equity of 10.38%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the prior year, the business posted $1.88 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year.
A number of research firms have recently weighed in on MLM. SunTrust Banks lowered their price objective on Martin Marietta Materials to $205.00 and set a “buy” rating for the company in a research report on Thursday, November 15th. Stephens raised Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research report on Friday, February 15th. Zacks Investment Research cut Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. ValuEngine raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a research report on Thursday, November 15th. Finally, Citigroup set a $231.00 price objective on Martin Marietta Materials and gave the stock a “buy” rating in a research report on Thursday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Martin Marietta Materials has an average rating of “Buy” and a consensus target price of $217.45.
In related news, Director John J. Koraleski acquired 1,000 shares of Martin Marietta Materials stock in a transaction on Friday, December 14th. The stock was acquired at an average price of $174.07 per share, for a total transaction of $174,070.00. Following the purchase, the director now owns 2,172 shares of the company’s stock, valued at approximately $378,080.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.75% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc raised its stake in shares of Martin Marietta Materials by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock valued at $1,210,520,000 after buying an additional 28,832 shares during the last quarter. BlackRock Inc. increased its stake in shares of Martin Marietta Materials by 0.9% in the 4th quarter. BlackRock Inc. now owns 3,945,492 shares of the construction company’s stock valued at $678,110,000 after purchasing an additional 34,666 shares in the last quarter. Morgan Stanley increased its stake in shares of Martin Marietta Materials by 5.0% in the 3rd quarter. Morgan Stanley now owns 3,665,846 shares of the construction company’s stock valued at $666,999,000 after purchasing an additional 173,731 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Martin Marietta Materials by 48.5% in the 3rd quarter. Baillie Gifford & Co. now owns 3,292,027 shares of the construction company’s stock valued at $598,984,000 after purchasing an additional 1,075,314 shares in the last quarter. Finally, Select Equity Group L.P. increased its stake in shares of Martin Marietta Materials by 27.2% in the 3rd quarter. Select Equity Group L.P. now owns 2,463,993 shares of the construction company’s stock valued at $448,324,000 after purchasing an additional 526,139 shares in the last quarter.
Shares of NYSE:MLM traded down $1.89 on Thursday, reaching $190.38. The company had a trading volume of 397,281 shares, compared to its average volume of 826,405. Martin Marietta Materials has a 52-week low of $150.75 and a 52-week high of $232.88. The company has a market capitalization of $11.85 billion, a PE ratio of 23.53, a P/E/G ratio of 1.64 and a beta of 1.15. The company has a current ratio of 1.88, a quick ratio of 1.04 and a debt-to-equity ratio of 0.57.
About Martin Marietta Materials
Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; and Portland and specialty cement for use in the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.
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