Martin Marietta Materials, Inc. (MLM) Expected to Announce Quarterly Sales of $853.16 Million

Equities research analysts predict that Martin Marietta Materials, Inc. (NYSE:MLM) will report sales of $853.16 million for the current quarter, Zacks reports. Five analysts have provided estimates for Martin Marietta Materials’ earnings, with the highest sales estimate coming in at $911.95 million and the lowest estimate coming in at $810.15 million. Martin Marietta Materials reported sales of $802.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.4%. The firm is expected to announce its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Martin Marietta Materials will report full year sales of $4.60 billion for the current fiscal year. For the next year, analysts expect that the company will report sales of $4.68 billion, with estimates ranging from $4.45 billion to $4.95 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Martin Marietta Materials.

Martin Marietta Materials (NYSE:MLM) last released its quarterly earnings data on Tuesday, February 12th. The construction company reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.21). Martin Marietta Materials had a net margin of 17.95% and a return on equity of 10.78%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the company earned $1.88 EPS. The business’s revenue was up 5.1% on a year-over-year basis.

Several research firms have issued reports on MLM. Zacks Investment Research restated a “strong sell” rating on shares of Martin Marietta Materials in a research note on Monday, December 31st. Citigroup set a $211.00 price objective on shares of Martin Marietta Materials and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank upped their price objective on shares of Martin Marietta Materials from $198.00 to $207.00 and gave the company a “buy” rating in a research note on Wednesday. Stephens set a $204.00 price objective on shares of Martin Marietta Materials and gave the company a “hold” rating in a research note on Tuesday, November 13th. Finally, Stifel Nicolaus restated a “buy” rating on shares of Martin Marietta Materials in a research note on Wednesday, December 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $217.45.

NYSE MLM opened at $180.42 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.88 and a quick ratio of 1.04. Martin Marietta Materials has a 1 year low of $150.75 and a 1 year high of $232.88. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.75 and a beta of 1.15.

In other Martin Marietta Materials news, Director John J. Koraleski bought 1,000 shares of the firm’s stock in a transaction dated Friday, December 14th. The stock was acquired at an average price of $174.07 per share, for a total transaction of $174,070.00. Following the completion of the purchase, the director now owns 2,172 shares of the company’s stock, valued at $378,080.04. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.75% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc boosted its stake in shares of Martin Marietta Materials by 0.4% during the third quarter. Vanguard Group Inc now owns 6,653,036 shares of the construction company’s stock worth $1,210,520,000 after buying an additional 28,832 shares during the period. BlackRock Inc. boosted its stake in shares of Martin Marietta Materials by 0.9% during the fourth quarter. BlackRock Inc. now owns 3,945,492 shares of the construction company’s stock worth $678,110,000 after buying an additional 34,666 shares during the period. Morgan Stanley boosted its stake in shares of Martin Marietta Materials by 5.0% during the third quarter. Morgan Stanley now owns 3,665,846 shares of the construction company’s stock worth $666,999,000 after buying an additional 173,731 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Martin Marietta Materials by 48.5% during the third quarter. Baillie Gifford & Co. now owns 3,292,027 shares of the construction company’s stock worth $598,984,000 after buying an additional 1,075,314 shares during the period. Finally, Select Equity Group L.P. boosted its stake in shares of Martin Marietta Materials by 27.2% during the third quarter. Select Equity Group L.P. now owns 2,463,993 shares of the construction company’s stock worth $448,324,000 after buying an additional 526,139 shares during the period.

Martin Marietta Materials Company Profile

Martin Marietta Materials, Inc, a natural-resource-based building materials company, supplies aggregates and heavy building materials to the construction industry in the United States and internationally. The company provides crushed stone, sand, and gravel products; ready mixed concrete, and asphalt and paving products; 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.

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Earnings History and Estimates for Martin Marietta Materials (NYSE:MLM)

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