News coverage about Matson (NYSE:MATX) has been trending somewhat positive on Thursday, Accern Sentiment Analysis reports. Accern identifies positive and negative news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Matson earned a news sentiment score of 0.13 on Accern’s scale. Accern also assigned headlines about the shipping company an impact score of 45.5046923283487 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Here are some of the news headlines that may have effected Accern Sentiment’s rankings:
Matson (NYSE:MATX) traded up 0.55% on Thursday, hitting $27.31. The company had a trading volume of 142,119 shares. Matson has a 12-month low of $21.63 and a 12-month high of $42.00. The firm has a market capitalization of $1.18 billion, a PE ratio of 15.69 and a beta of 1.22. The firm has a 50-day moving average price of $27.22 and a 200-day moving average price of $28.99.
Matson (NYSE:MATX) last issued its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.11. The company had revenue of $512.50 million during the quarter, compared to analysts’ expectations of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. Matson’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. On average, equities research analysts anticipate that Matson will post $1.67 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the stock. BidaskClub downgraded shares of Matson from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Friday, August 18th. Wells Fargo & Company downgraded shares of Matson from a “market perform” rating to an “underperform” rating and set a $22.00 target price on the stock. in a research note on Friday, August 18th. Finally, Stephens downgraded shares of Matson from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $38.00 to $23.00 in a research note on Friday, August 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Matson has a consensus rating of “Hold” and an average price target of $27.50.
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In related news, CFO Joel M. Wine bought 6,100 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average cost of $24.07 per share, for a total transaction of $146,827.00. Following the acquisition, the chief financial officer now directly owns 99,411 shares of the company’s stock, valued at approximately $2,392,822.77. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Blake Baird sold 2,578 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $29.98, for a total value of $77,288.44. Following the sale, the director now owns 15,583 shares of the company’s stock, valued at $467,178.34. The disclosure for this sale can be found here. Insiders have purchased a total of 12,200 shares of company stock valued at $292,734 over the last 90 days. 2.60% of the stock is currently owned by company insiders.
Matson Company Profile
Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.
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