Martin Transport falls on lower Q3 results

Marten Transport

17/10/2024 23:05

** Shares of Martin Transport Ltd  MRTN.O  fell 1.5% to
$16.22
    ** Co posts Q3 operating rev of $237.3 mln, down from $279.5
mln a year ago
    ** MRTN reports Q3 EPS of $0.05 vs $0.17 last year
    ** "Earnings were heavily pressured by the considerable
duration and depth of the freight market recession's oversupply
and weak demand," said Executive Chairman Randolph Marten
    ** 1 of 3 brokerages covering the stock rate it "strong buy"
and 2 "hold"; their median PT is $18.33
    ** As of last close, stock down ~20.50%

 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com))