Analysts expect Martin Midstream Partners L.P. (NASDAQ:MMLP) to report earnings per share of ($0.08) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Martin Midstream Partners’ earnings, with the highest EPS estimate coming in at ($0.03) and the lowest estimate coming in at ($0.14). Martin Midstream Partners reported earnings of ($0.18) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 55.6%. The firm is scheduled to issue its next earnings results on Wednesday, October 24th.
On average, analysts expect that Martin Midstream Partners will report full-year earnings of $0.33 per share for the current fiscal year, with EPS estimates ranging from $0.26 to $0.42. For the next fiscal year, analysts forecast that the company will post earnings of $0.71 per share, with EPS estimates ranging from $0.56 to $0.93. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Martin Midstream Partners.
Martin Midstream Partners (NASDAQ:MMLP) last posted its quarterly earnings results on Wednesday, July 25th. The pipeline company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). The company had revenue of $216.57 million during the quarter, compared to analysts’ expectations of $222.53 million. Martin Midstream Partners had a return on equity of 5.89% and a net margin of 0.77%.
Several equities analysts recently issued reports on MMLP shares. BidaskClub cut Martin Midstream Partners from a “buy” rating to a “hold” rating in a research report on Thursday, June 7th. Zacks Investment Research raised Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Tuesday, July 3rd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $17.00 price objective on shares of Martin Midstream Partners in a research report on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.20.
MMLP stock opened at $11.05 on Monday. The company has a market capitalization of $437.39 million, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 16.80 and a beta of 1.51. Martin Midstream Partners has a 12-month low of $10.65 and a 12-month high of $17.30. The company has a current ratio of 1.88, a quick ratio of 0.86 and a debt-to-equity ratio of 3.14.
Hedge funds have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new position in Martin Midstream Partners in the 1st quarter valued at approximately $137,000. Endurance Wealth Management Inc. lifted its position in 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 in the last quarter. Bank of America Corp DE lifted its position in 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 in the last quarter. PVG Asset Management Corp bought a new position in Martin Midstream Partners in the 1st quarter valued at approximately $456,000. Finally, Rational Advisors LLC bought a new position in Martin Midstream Partners in the 1st quarter valued at approximately $457,000. 28.78% of the stock is currently owned by institutional investors and hedge funds.
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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