Equities analysts expect Martin Marietta Materials, Inc. (NYSE:MLM) to announce $3.04 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Martin Marietta Materials’ earnings. The highest EPS estimate is $3.29 and the lowest is $2.90. Martin Marietta Materials reported earnings per share of $2.49 in the same quarter last year, which suggests a positive year-over-year growth rate of 22.1%. The company is scheduled to report its next earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Martin Marietta Materials will report full year earnings of $8.02 per share for the current year, with EPS estimates ranging from $7.95 to $8.14. For the next year, analysts forecast that the business will post earnings of $10.41 per share, with EPS estimates ranging from $9.91 to $10.87. Zacks’ EPS averages are an average based on a survey of analysts that follow Martin Marietta Materials.
Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings data on Tuesday, August 1st. The construction company reported $2.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.38 by $0.13. Martin Marietta Materials had a net margin of 11.19% and a return on equity of 10.69%. The business had revenue of $996.30 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the firm earned $1.90 EPS. The company’s revenue was up 8.8% on a year-over-year basis.
MLM has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. BidaskClub cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Saturday. Stifel Nicolaus upped their price target on shares of Martin Marietta Materials from $258.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Finally, Stephens upped their price target on shares of Martin Marietta Materials from $246.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $229.67.
Shares of Martin Marietta Materials (NYSE:MLM) traded up 0.51% during midday trading on Friday, hitting $210.95. 501,583 shares of the stock were exchanged. Martin Marietta Materials has a 12 month low of $167.06 and a 12 month high of $244.32. The firm’s 50-day moving average is $224.47 and its 200-day moving average is $223.48. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 30.36 and a beta of 1.14.
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Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Martin Marietta Materials by 3.3% in the first quarter. Vanguard Group Inc. now owns 6,229,398 shares of the construction company’s stock worth $1,359,565,000 after buying an additional 198,069 shares during the last quarter. BlackRock Inc. boosted its stake in Martin Marietta Materials by 3,137.5% in the first quarter. BlackRock Inc. now owns 3,736,667 shares of the construction company’s stock valued at $815,527,000 after buying an additional 3,621,250 shares in the last quarter. Egerton Capital UK LLP boosted its stake in Martin Marietta Materials by 329.1% in the second quarter. Egerton Capital UK LLP now owns 1,967,865 shares of the construction company’s stock valued at $438,007,000 after buying an additional 1,509,258 shares in the last quarter. Aristotle Capital Management LLC boosted its stake in Martin Marietta Materials by 4.8% in the first quarter. Aristotle Capital Management LLC now owns 1,544,722 shares of the construction company’s stock valued at $337,136,000 after buying an additional 70,095 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Martin Marietta Materials by 3.4% in the second quarter. Principal Financial Group Inc. now owns 1,378,563 shares of the construction company’s stock valued at $306,840,000 after buying an additional 45,402 shares in the last quarter. 98.78% of the stock is currently owned by hedge funds and other institutional investors.
About Martin Marietta Materials
Martin Marietta Materials, Inc is a supplier of aggregates products (crushed stone, sand, and gravel) used for the construction of infrastructure, nonresidential, and residential projects. Aggregates products are also used for railroad ballast and in agricultural, utility and environmental applications.
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