Martin Marietta Materials, Inc. (MLM) Expected to Announce Earnings of $0.34 Per Share

Wall Street brokerages predict that Martin Marietta Materials, Inc. (NYSE:MLM) will announce $0.34 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Martin Marietta Materials’ earnings, with the lowest EPS estimate coming in at $0.09 and the highest estimate coming in at $0.58. Martin Marietta Materials posted earnings per share of $0.16 during the same quarter last year, which suggests a positive year-over-year growth rate of 112.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Martin Marietta Materials will report full year earnings of $8.97 per share for the current financial year, with EPS estimates ranging from $8.74 to $9.20. For the next year, analysts expect that the business will report earnings of $10.43 per share, with EPS estimates ranging from $9.80 to $11.00. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Martin Marietta Materials.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings results on Tuesday, February 12th. The construction company reported $1.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.21). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1 billion. Martin Marietta Materials had a net margin of 11.07% and a return on equity of 10.31%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.88 EPS.

A number of research firms have recently weighed in on MLM. Zacks Investment Research raised Martin Marietta Materials from a “sell” rating to a “hold” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. assumed coverage on shares of Martin Marietta Materials in a research note on Thursday, March 21st. They set an “overweight” rating and a $225.00 price objective on the stock. Stephens upgraded shares of Martin Marietta Materials from an “equal” rating to an “overweight” rating in a research note on Friday, February 15th. Citigroup set a $211.00 price objective on shares of Martin Marietta Materials and gave the company a “buy” rating in a research note on Thursday, February 14th. Finally, Deutsche Bank raised their price objective on shares of Martin Marietta Materials from $198.00 to $207.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $218.08.

In related news, SVP Donald A. Mccunniff sold 660 shares of Martin Marietta Materials stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $190.90, for a total value of $125,994.00. Following the transaction, the senior vice president now owns 15,349 shares in the company, valued at approximately $2,930,124.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sue W. Cole sold 1,500 shares of Martin Marietta Materials stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $195.07, for a total transaction of $292,605.00. Following the completion of the transaction, the director now owns 20,933 shares in the company, valued at approximately $4,083,400.31. The disclosure for this sale can be found here. 0.75% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JOYN Advisors Inc. increased its holdings in shares of Martin Marietta Materials by 472.7% during the 4th quarter. JOYN Advisors Inc. now owns 189 shares of the construction company’s stock worth $32,000 after purchasing an additional 156 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Martin Marietta Materials by 397.4% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 189 shares of the construction company’s stock worth $32,000 after purchasing an additional 151 shares during the period. Enlightenment Research LLC bought a new position in shares of Martin Marietta Materials during the 4th quarter worth about $34,000. Bogart Wealth LLC increased its holdings in shares of Martin Marietta Materials by 76.9% during the 4th quarter. Bogart Wealth LLC now owns 230 shares of the construction company’s stock worth $39,000 after purchasing an additional 100 shares during the period. Finally, First Personal Financial Services increased its holdings in shares of Martin Marietta Materials by 30.3% during the 4th quarter. First Personal Financial Services now owns 271 shares of the construction company’s stock worth $47,000 after purchasing an additional 63 shares during the period.

MLM opened at $201.18 on Friday. The company has a market cap of $12.56 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 1.75 and a beta of 1.12. The company has a current ratio of 1.74, a quick ratio of 0.89 and a debt-to-equity ratio of 0.55. Martin Marietta Materials has a twelve month low of $150.75 and a twelve month high of $232.88.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 4th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Friday, March 1st. Martin Marietta Materials’s payout ratio is presently 23.73%.

Martin Marietta Materials Company Profile

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 offers crushed stone, sand, and gravel products; ready mixed concrete and asphalt; paving products and services; 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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Earnings History and Estimates for Martin Marietta Materials (NYSE:MLM)

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