Equities research analysts forecast that Martin Midstream Partners L.P. (NASDAQ:MMLP) will report earnings of $0.36 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Martin Midstream Partners’ earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.53. Martin Midstream Partners reported earnings per share of $0.49 during the same quarter last year, which would indicate a negative year-over-year growth rate of 26.5%. The firm is expected to issue its next quarterly earnings results on Wednesday, February 21st.
On average, analysts expect that Martin Midstream Partners will report full year earnings of $0.45 per share for the current financial year, with EPS estimates ranging from $0.23 to $0.78. For the next financial year, analysts forecast that the firm will report earnings of $0.78 per share, with EPS estimates ranging from $0.47 to $1.08. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Martin Midstream Partners.
Several analysts have recently commented on MMLP shares. Zacks Investment Research lowered shares of Martin Midstream Partners from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Stifel Nicolaus lowered their price target on shares of Martin Midstream Partners from $19.00 to $17.00 and set a “hold” rating on the stock in a research report on Thursday, October 26th. Royal Bank of Canada reiterated a “hold” rating and issued a $18.00 price target on shares of Martin Midstream Partners in a research report on Friday, October 27th. B. Riley reiterated a “buy” rating and issued a $18.00 price target on shares of Martin Midstream Partners in a research report on Monday, December 18th. Finally, BidaskClub upgraded shares of Martin Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.33.
Large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its stake in Martin Midstream Partners by 192.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,543 shares of the pipeline company’s stock worth $167,000 after purchasing an additional 6,280 shares during the period. Stephens Inc. AR raised its stake in Martin Midstream Partners by 6.5% during the second quarter. Stephens Inc. AR now owns 28,733 shares of the pipeline company’s stock worth $504,000 after purchasing an additional 1,754 shares during the period. CNH Partners LLC raised its stake in Martin Midstream Partners by 62.3% during the second quarter. CNH Partners LLC now owns 30,468 shares of the pipeline company’s stock worth $535,000 after purchasing an additional 11,700 shares during the period. Royal Bank of Canada raised its stake in Martin Midstream Partners by 1.9% during the second quarter. Royal Bank of Canada now owns 32,617 shares of the pipeline company’s stock worth $573,000 after purchasing an additional 602 shares during the period. Finally, Arrow Investment Advisors LLC raised its stake in Martin Midstream Partners by 14.9% during the third quarter. Arrow Investment Advisors LLC now owns 41,684 shares of the pipeline company’s stock worth $648,000 after purchasing an additional 5,393 shares during the period. 31.17% of the stock is currently owned by institutional investors.
Shares of Martin Midstream Partners (NASDAQ:MMLP) traded up $0.10 on Wednesday, reaching $14.70. 120,100 shares of the company’s stock traded hands, compared to its average volume of 126,833. The company has a quick ratio of 0.86, a current ratio of 2.04 and a debt-to-equity ratio of 2.78. Martin Midstream Partners has a one year low of $12.70 and a one year high of $20.90. The firm has a market capitalization of $565.17, a price-to-earnings ratio of 31.96 and a beta of 1.49.
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About Martin Midstream Partners
Martin Midstream Partners L.P. is a limited partnership with a set of operations focused in the United States Gulf Coast region. The Company’s four business lines include terminalling and storage services for petroleum products and by-products, including the refining of naphthenic crude oil and the blending and packaging of finished lubricants; natural gas services, including liquids transportation and distribution services, and natural gas storage; sulfur and sulfur-based products processing, manufacturing, marketing and distribution, and marine transportation services for petroleum products and by-products.
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