Analysts forecast that Matson, Inc. (NYSE:MATX) will post earnings of $0.29 per share for the current quarter, Zacks reports. Three analysts have made estimates for Matson’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.25. Matson reported earnings per share of $0.44 during the same quarter last year, which suggests a negative year over year growth rate of 34.1%. The business is scheduled to report its next earnings report on Tuesday, February 20th.
On average, analysts expect that Matson will report full year earnings of $1.76 per share for the current year, with EPS estimates ranging from $1.60 to $1.84. For the next fiscal year, analysts anticipate that the business will report earnings of $1.85 per share, with EPS estimates ranging from $1.75 to $1.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Matson.
Matson (NYSE:MATX) last announced its quarterly earnings data on Thursday, November 2nd. The shipping company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.59 by $0.20. The business had revenue of $543.90 million for the quarter, compared to analyst estimates of $531.61 million. Matson had a net margin of 4.12% and a return on equity of 17.49%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share.
Several equities analysts have recently weighed in on MATX shares. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, November 7th. BidaskClub upgraded shares of Matson from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, August 18th. Finally, Wells Fargo & Company downgraded shares of Matson from a “market perform” rating to an “underperform” rating and set a $22.00 target price for the company. in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Matson presently has a consensus rating of “Hold” and a consensus target price of $27.25.
Shares of Matson (NYSE:MATX) opened at $27.47 on Friday. The company has a market cap of $1,166.05, a PE ratio of 14.16, a price-to-earnings-growth ratio of 3.13 and a beta of 1.23. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.07 and a quick ratio of 1.02. Matson has a 12-month low of $21.63 and a 12-month high of $40.26.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 9th will be paid a $0.20 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. Matson’s payout ratio is 41.24%.
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In other news, Director Thomas B. Fargo acquired 2,000 shares of Matson stock in a transaction that occurred on Monday, August 21st. The stock was bought at an average price of $23.61 per share, with a total value of $47,220.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President Ronald J. Forest sold 16,491 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $29.28, for a total transaction of $482,856.48. Following the transaction, the president now directly owns 94,977 shares of the company’s stock, valued at approximately $2,780,926.56. The disclosure for this sale can be found here. Insiders bought 12,200 shares of company stock valued at $292,734 in the last quarter. Corporate insiders own 2.60% of the company’s stock.
Large investors have recently modified their holdings of the stock. Riverhead Capital Management LLC lifted its position in Matson by 89.2% during the second quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock valued at $108,000 after purchasing an additional 1,695 shares during the last quarter. UBS Group AG lifted its position in Matson by 14.0% during the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 495 shares during the last quarter. Quantbot Technologies LP bought a new stake in Matson during the third quarter valued at approximately $191,000. Virtu KCG Holdings LLC bought a new stake in Matson during the second quarter valued at approximately $248,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Matson during the third quarter valued at approximately $234,000. 84.22% of the stock is owned by institutional investors.
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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