Zacks Research Issues Pessimistic Forecast for MLM Earnings

Martin Marietta Materials, Inc. (NYSE:MLM) – Analysts at Zacks Research decreased their FY2024 EPS estimates for Martin Marietta Materials in a research note issued on Wednesday, November 20th. Zacks Research analyst R. Department now expects that the construction company will post earnings per share of $17.57 for the year, down from their prior estimate of $18.87. The consensus estimate for Martin Marietta Materials’ current full-year earnings is $17.58 per share. Zacks Research also issued estimates for Martin Marietta Materials’ FY2025 earnings at $20.61 EPS and FY2026 earnings at $21.67 EPS.

Martin Marietta Materials (NYSE:MLM) last issued its earnings results on Wednesday, October 30th. The construction company reported $5.91 EPS for the quarter, missing analysts’ consensus estimates of $6.41 by ($0.50). The firm had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.94 billion. Martin Marietta Materials had a net margin of 30.47% and a return on equity of 12.53%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.94 earnings per share.

A number of other research analysts have also recently issued reports on the stock. Barclays lifted their price objective on shares of Martin Marietta Materials from $595.00 to $645.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Stephens dropped their target price on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. decreased their price target on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Loop Capital raised their price objective on Martin Marietta Materials from $600.00 to $680.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley upped their target price on shares of Martin Marietta Materials from $610.00 to $657.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Martin Marietta Materials currently has an average rating of “Moderate Buy” and an average price target of $634.85.

Martin Marietta Materials Price Performance

Shares of MLM opened at $603.84 on Monday. The business’s fifty day moving average is $565.21 and its 200 day moving average is $556.17. Martin Marietta Materials has a 12-month low of $456.83 and a 12-month high of $633.23. The company has a quick ratio of 1.24, a current ratio of 2.34 and a debt-to-equity ratio of 0.43. The stock has a market cap of $36.91 billion, a P/E ratio of 18.63, a P/E/G ratio of 4.05 and a beta of 0.90.

Institutional Investors Weigh In On Martin Marietta Materials

A number of institutional investors and hedge funds have recently made changes to their positions in MLM. Newbridge Financial Services Group Inc. raised its stake in Martin Marietta Materials by 411.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 46 shares of the construction company’s stock valued at $25,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC increased its stake in Martin Marietta Materials by 1,300.0% in the third quarter. Asset Dedication LLC now owns 56 shares of the construction company’s stock valued at $30,000 after acquiring an additional 52 shares during the last quarter. First Personal Financial Services purchased a new stake in Martin Marietta Materials in the third quarter worth approximately $33,000. Fortitude Family Office LLC raised its stake in shares of Martin Marietta Materials by 186.4% during the second quarter. Fortitude Family Office LLC now owns 63 shares of the construction company’s stock worth $34,000 after acquiring an additional 41 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Martin Marietta Materials in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Martin Marietta Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.79 per share. The ex-dividend date is Monday, December 2nd. This represents a $3.16 dividend on an annualized basis and a yield of 0.52%. Martin Marietta Materials’s payout ratio is 9.85%.

Martin Marietta Materials Company Profile

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.