Zacks: Analysts Expect Martin Marietta Materials, Inc. (NYSE:MLM) Will Announce Quarterly Sales of $1.51 Billion

Wall Street brokerages forecast that Martin Marietta Materials, Inc. (NYSE:MLMGet Rating) will report sales of $1.51 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Martin Marietta Materials’ earnings, with the highest sales estimate coming in at $1.58 billion and the lowest estimate coming in at $1.44 billion. Martin Marietta Materials posted sales of $1.30 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 16.2%. The company is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Martin Marietta Materials will report full-year sales of $5.90 billion for the current fiscal year, with estimates ranging from $5.72 billion to $6.15 billion. For the next fiscal year, analysts anticipate that the company will report sales of $6.67 billion, with estimates ranging from $6.41 billion to $6.91 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Martin Marietta Materials.

Martin Marietta Materials (NYSE:MLMGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The construction company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.32). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Martin Marietta Materials had a net margin of 11.63% and a return on equity of 11.42%. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS.

MLM has been the topic of a number of recent research reports. StockNews.com downgraded shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. DA Davidson lowered their target price on shares of Martin Marietta Materials from $465.00 to $450.00 in a research note on Monday, February 14th. Barclays lowered their price objective on shares of Martin Marietta Materials from $485.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, February 11th. Morgan Stanley decreased their target price on shares of Martin Marietta Materials from $470.00 to $441.00 and set an “overweight” rating for the company in a report on Monday, April 18th. Finally, TheStreet cut shares of Martin Marietta Materials from a “b” rating to a “c+” rating in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $439.00.

Several hedge funds and other institutional investors have recently modified their holdings of MLM. AHL Investment Management Inc. acquired a new position in Martin Marietta Materials in the 4th quarter valued at approximately $31,000. Marshall Wace LLP bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at $32,000. NuWave Investment Management LLC bought a new position in shares of Martin Marietta Materials in the fourth quarter valued at $37,000. Tortoise Investment Management LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at about $39,000. Finally, KB Financial Partners LLC bought a new position in shares of Martin Marietta Materials during the fourth quarter valued at about $40,000. Institutional investors own 93.49% of the company’s stock.

Martin Marietta Materials stock opened at $325.35 on Wednesday. The firm has a fifty day moving average of $362.26 and a 200-day moving average of $389.40. The firm has a market capitalization of $20.29 billion, a P/E ratio of 30.93, a PEG ratio of 1.43 and a beta of 0.79. Martin Marietta Materials has a 52-week low of $316.73 and a 52-week high of $446.46. The company has a quick ratio of 1.69, a current ratio of 2.79 and a debt-to-equity ratio of 0.79.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 1st will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, May 31st. Martin Marietta Materials’s payout ratio is currently 23.19%.

Martin Marietta Materials Company Profile (Get Rating)

Martin Marietta Materials, Inc, a natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally. 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 the infrastructure projects, and nonresidential and residential construction markets, as well as in the railroad, agricultural, utility, and environmental industries.

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