Martin Marietta Materials (MLM) to Release Quarterly Earnings on Wednesday

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

Martin Marietta Materials (NYSE:MLM) last posted 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). Martin Marietta Materials had a net margin of 30.80% and a return on equity of 13.85%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business earned $5.60 EPS. Martin Marietta Materials’s revenue for the quarter was down 3.1% on a year-over-year basis. 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 Stock Performance

Shares of Martin Marietta Materials stock opened at $570.21 on Monday. The business has a 50-day simple moving average of $536.79 and a 200-day simple moving average of $556.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.94 and a current ratio of 1.86. Martin Marietta Materials has a one year low of $389.90 and a one year high of $626.67. The company has a market cap of $35.15 billion, a PE ratio of 16.90, a P/E/G ratio of 4.62 and a beta of 0.91.

Martin Marietta Materials Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MLM shares. Stifel Nicolaus decreased their price objective on shares of Martin Marietta Materials from $650.00 to $630.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Stephens decreased their price target on Martin Marietta Materials from $650.00 to $610.00 and set an “overweight” rating for the company in a report on Friday, August 9th. StockNews.com downgraded Martin Marietta Materials from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Jefferies Financial Group decreased their target price on Martin Marietta Materials from $650.00 to $635.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Finally, Truist Financial dropped their price target on shares of Martin Marietta Materials from $700.00 to $670.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Martin Marietta Materials presently has a consensus rating of “Moderate Buy” and an average target price 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.