Martin Marietta Materials, Inc. (NYSE:MLM) is a supplier of construction material that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MLM’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Martin Marietta Materials could be a solid choice for investors.
Current Quarter Estimates for MLM
In the past 30 days, 5 estimates have gone higher for Martin Marietta Materials with no downward movement in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.84 cents a share 30 days ago, to $2.04 today, a move of 10.9%.
Current Year Estimates for MLM
Meanwhile, Martin Marietta Materials’s current year figures are also looking quite promising, with 6 estimates moving higher in the past month, with no downward movement. The consensus estimate trend has also seen a boost for this time frame, increasing from $6.56 per share 30 days ago to $7.41 per share today, an increase of 13%.
Bottom Line
The stock has also started to move higher lately, adding 12% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
MARTIN MRT-MATL (MLM): Free Stock Analysis Report
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