Martin Marietta Materials (MLM) Set to Announce Quarterly Earnings on Wednesday

Martin Marietta Materials (NYSE:MLM) is scheduled to announce its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $7.13 per share for the quarter. Martin Marietta Materials has set its FY 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Martin Marietta Materials (NYSE:MLM) last issued its quarterly earnings results on Thursday, August 8th. The construction company reported $4.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.60). The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.83 billion. Martin Marietta Materials had a return on equity of 13.85% and a net margin of 30.80%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $5.60 earnings per share. On average, analysts expect Martin Marietta Materials to post $19 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Martin Marietta Materials Price Performance

Shares of NYSE:MLM opened at $570.21 on Monday. Martin Marietta Materials has a 52 week low of $389.90 and a 52 week high of $626.67. The company has a 50-day moving average price of $536.79 and a 200 day moving average price of $556.47. The company has a market cap of $35.15 billion, a P/E ratio of 16.90, a PEG ratio of 4.62 and a beta of 0.91. The company has a quick ratio of 0.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.45.

Martin Marietta Materials Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from Martin Marietta Materials’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Tuesday, September 3rd. Martin Marietta Materials’s dividend payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

MLM has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Martin Marietta Materials from $560.00 to $515.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Loop Capital lowered their price target on shares of Martin Marietta Materials from $630.00 to $615.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. StockNews.com cut shares of Martin Marietta Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Citigroup decreased their price objective on shares of Martin Marietta Materials from $658.00 to $646.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, BNP Paribas raised shares of Martin Marietta Materials to a “strong-buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $619.36.

About Martin Marietta Materials

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.