Brokerages Anticipate Martin Midstream Partners L.P. (MMLP) Will Announce Quarterly Sales of $289.71 Million

Wall Street brokerages expect that Martin Midstream Partners L.P. (NASDAQ:MMLP) will post sales of $289.71 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Martin Midstream Partners’ earnings, with the highest sales estimate coming in at $301.00 million and the lowest estimate coming in at $278.41 million. Martin Midstream Partners posted sales of $305.74 million during the same quarter last year, which would suggest a negative year over year growth rate of 5.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 13th.

According to Zacks, analysts expect that Martin Midstream Partners will report full year sales of $1.01 billion for the current year, with estimates ranging from $998.23 million to $1.02 billion. For the next financial year, analysts expect that the business will report sales of $1.06 billion, with estimates ranging from $1.01 billion to $1.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Martin Midstream Partners.

Martin Midstream Partners (NASDAQ:MMLP) last issued its quarterly earnings results on Wednesday, October 24th. The pipeline company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.18). The business had revenue of $219.05 million for the quarter, compared to analyst estimates of $226.83 million. Martin Midstream Partners had a return on equity of 5.03% and a net margin of 6.19%.

Several brokerages have recently issued reports on MMLP. BidaskClub raised shares of Martin Midstream Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 2nd. ValuEngine raised shares of Martin Midstream Partners from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Zacks Investment Research raised shares of Martin Midstream Partners from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, October 31st. Raymond James reduced their price target on shares of Martin Midstream Partners from $17.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $17.00 price target on shares of Martin Midstream Partners in a research report on Monday, July 16th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $15.83.

Several hedge funds have recently added to or reduced their stakes in MMLP. Endurance Wealth Management Inc. increased its stake in shares of Martin Midstream Partners by 106.1% during the second quarter. Endurance Wealth Management Inc. now owns 13,600 shares of the pipeline company’s stock worth $188,000 after buying an additional 7,000 shares during the period. Rational Advisors LLC increased its stake in shares of Martin Midstream Partners by 35.8% during the second quarter. Rational Advisors LLC now owns 45,900 shares of the pipeline company’s stock worth $633,000 after buying an additional 12,100 shares during the period. GSA Capital Partners LLP increased its stake in shares of Martin Midstream Partners by 198.2% during the second quarter. GSA Capital Partners LLP now owns 107,965 shares of the pipeline company’s stock worth $1,490,000 after buying an additional 71,765 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Martin Midstream Partners by 1.6% during the second quarter. OppenheimerFunds Inc. now owns 6,546,670 shares of the pipeline company’s stock worth $90,345,000 after buying an additional 101,718 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of Martin Midstream Partners by 26.4% during the second quarter. Bank of America Corp DE now owns 31,454 shares of the pipeline company’s stock worth $434,000 after buying an additional 6,564 shares during the period. Hedge funds and other institutional investors own 28.91% of the company’s stock.

Shares of MMLP traded up $0.17 during mid-day trading on Wednesday, hitting $12.52. 205,299 shares of the company’s stock were exchanged, compared to its average volume of 223,408. The stock has a market capitalization of $487.95 million, a PE ratio of 28.45, a P/E/G ratio of 55.56 and a beta of 1.05. Martin Midstream Partners has a fifty-two week low of $10.65 and a fifty-two week high of $16.95. The company has a debt-to-equity ratio of 2.45, a quick ratio of 1.03 and a current ratio of 2.28.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Investors of record on Wednesday, November 7th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, November 6th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 15.97%. Martin Midstream Partners’s payout ratio is 454.55%.

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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