Zacks: Analysts Expect Martin Midstream Partners L.P. (MMLP) Will Post Earnings of $0.22 Per Share

Equities research analysts expect that Martin Midstream Partners L.P. (NASDAQ:MMLP) will post earnings per share of $0.22 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Martin Midstream Partners’ earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.19. Martin Midstream Partners posted earnings of $0.48 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 54.2%. The business is expected to issue its next quarterly earnings report on Wednesday, February 13th.

According to Zacks, analysts expect that Martin Midstream Partners will report full-year earnings of $0.13 per share for the current financial year, with EPS estimates ranging from $0.12 to $0.14. For the next financial year, analysts expect that the company will report earnings of $0.73 per share, with EPS estimates ranging from $0.60 to $0.88. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Martin Midstream Partners.

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

A number of research analysts have commented on MMLP shares. BidaskClub cut shares of Martin Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 31st. Zacks Investment Research cut shares of Martin Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 26th. ValuEngine raised shares of Martin Midstream Partners from a “strong sell” rating to a “sell” rating in a research report on Monday, October 22nd. 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. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.83.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can purchased a new stake in Martin Midstream Partners in the third quarter worth about $449,000. California Public Employees Retirement System grew its holdings in shares of Martin Midstream Partners by 10.8% during the second quarter. California Public Employees Retirement System now owns 43,226 shares of the pipeline company’s stock valued at $597,000 after buying an additional 4,226 shares during the last quarter. PVG Asset Management Corp grew its holdings in shares of Martin Midstream Partners by 35.8% during the second quarter. PVG Asset Management Corp now owns 45,900 shares of the pipeline company’s stock valued at $633,000 after buying an additional 12,100 shares during the last quarter. Bank of America Corp DE grew its holdings 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 valued at $434,000 after buying an additional 6,564 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its holdings 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 valued at $90,345,000 after buying an additional 101,718 shares during the last quarter. 28.91% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ MMLP opened at $13.34 on Monday. Martin Midstream Partners has a 12 month low of $10.65 and a 12 month 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 stock has a market capitalization of $520.74 million, a price-to-earnings ratio of 30.32, a P/E/G ratio of 59.29 and a beta of 1.05.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $2.00 annualized dividend and a dividend yield of 14.99%. Martin Midstream Partners’s dividend payout ratio is presently 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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