Martin Marietta Materials, Inc. (NYSE:MLM) Expected to Post Quarterly Sales of $1.10 Billion


Equity research analysts expect Martin Marietta Materials, Inc. (NYSE: MLM – Get Rating) to report sales of $1.10 billion in the current quarter, according to Zacks Investment Research. Three analysts have made profit estimates for Martin Marietta Materials, with the highest sales estimate of $1.14 billion and the lowest estimate of $1.05 billion. Martin Marietta Materials reported sales of $921.90 million in the same quarter last year, suggesting a positive year-over-year growth rate of 19.3%. The company is expected to release its next quarterly results before the market opens on Monday, January 1.

According to Zacks, analysts expect Martin Marietta Materials to report annual revenue of $5.66 billion for the current fiscal year, with estimates ranging from $5.40 billion to $5.99 billion. . For next year, analysts expect the company to register sales of $6.49 billion, with estimates ranging from $6.11 billion to $6.84 billion. Zacks Investment Research sales averages are an average based on a survey of sell-side research analysts who cover Martin Marietta Materials.

Martin Marietta Materials (NYSE:MLM – Get Rating) last released its results on Thursday, February 10. The construction company reported earnings per share of $3.15 for the quarter, beating Thomson Reuters consensus estimate of $2.94 by $0.21. The company posted revenue of $1.50 billion for the quarter, compared to $1.45 billion for analysts. Martin Marietta Materials had a return on equity of 12.31% and a net margin of 12.98%. The company’s revenue for the quarter increased by 26.9% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $2.93.

Several brokerages have recently taken a look at MLM. Morgan Stanley lowered its price target on Martin Marietta Materials from $484.00 to $470.00 and set an “overweight” rating on the stock in a Friday, February 11 report. Barclays cut its price target on Martin Marietta Materials shares from $485.00 to $450.00 and set an “overweight” rating on the stock in a Friday, February 11 research report. DA Davidson reduced its price target on Martin Marietta Materials shares from $465.00 to $450.00 in a Monday, February 14 research report. Finally, StockNews.com took over coverage of Martin Marietta Materials stocks in a Thursday, March 31 research report. They put a “sell” mark on the stock. One analyst rated the stock with a sell rating, two gave the company a hold rating and eight gave the company’s stock a buy rating. Based on data from MarketBeat.com, Martin Marietta Materials currently has a consensus Buy rating and a consensus price target of $446.20.

Shares of Martin Marietta Materials opened Wednesday at $364.82. The stock has a market capitalization of $22.75 billion, a P/E ratio of 32.52, a P/E/G ratio of 1.44 and a beta of 0.77. The stock’s 50-day simple moving average is $378.40 and its 200-day simple moving average is $394.43. Martin Marietta Materials has a 1-year low of $329.69 and a 1-year high of $446.46. The company has a debt ratio of 0.78, a current ratio of 2.69 and a quick ratio of 1.69.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31. Shareholders of record on Tuesday, March 1 received a dividend of $0.61. This represents a dividend of $2.44 on an annualized basis and a yield of 0.67%. The ex-dividend date was Monday, February 28. Martin Marietta Materials’ payout ratio is 21.75%.

A number of hedge funds and other institutional investors have recently changed their positions in MLM. Baillie Gifford & Co. increased its position in Martin Marietta Materials shares by 15.7% during the fourth quarter. Baillie Gifford & Co. now owns 4,342,622 shares of the construction company worth $1,913,012,000 after acquiring an additional 590,221 shares during the period. BlackRock Inc. increased its position in Martin Marietta Materials shares by 1.3% during the third quarter. BlackRock Inc. now owns 4,149,870 shares of the construction company worth $1,417,929,000 after acquiring an additional 53,775 shares during the period. Select Equity Group LP increased its position in Martin Marietta Materials shares by 1.7% during the fourth quarter. Select Equity Group LP now owns 3,505,954 shares of the construction company worth $1,544,443,000 after acquiring an additional 60,234 shares during the period. State Street Corp increased its stake in shares of Martin Marietta Materials by 0.5% during the fourth quarter. State Street Corp now owns 2,781,701 shares of the construction company worth $1,225,395,000 after buying 13,649 more shares last quarter. Finally, Geode Capital Management LLC increased its stake in Martin Marietta Materials shares by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,178,310 shares of the construction company worth $517,730,000 after purchasing an additional 25,083 shares last quarter. 92.42% of the shares are currently held by institutional investors.

Martin Marietta Materials Company Profile (Get an evaluation)

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 around the world. It offers crushed stone, sand and gravel products; ready-mixed concrete and asphalt; paving products and services; and Portland and specialty cement for use in infrastructure projects and the non-residential and residential construction markets, as well as 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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