Matson, Inc. (NYSE:MATX) – Equities researchers at Oppenheimer increased their FY2018 earnings estimates for shares of Matson in a report issued on Tuesday. Oppenheimer analyst I. Zaffino now anticipates that the shipping company will post earnings of $2.14 per share for the year, up from their previous forecast of $1.84.
MATX has been the topic of several other reports. Zacks Investment Research downgraded shares of Matson from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Stifel Nicolaus reiterated a “buy” rating and set a $38.00 price target (up from $32.00) on shares of Matson in a report on Monday, January 29th. BidaskClub upgraded shares of Matson from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Wells Fargo & Co upgraded shares of Matson from an “underperform” rating to a “market perform” rating in a report on Monday, January 29th. Finally, Seaport Global Securities upgraded shares of Matson from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.60.
Matson (MATX) opened at $29.71 on Friday. The company has a market cap of $1,260.00, a PE ratio of 5.53, a P/E/G ratio of 2.70 and a beta of 1.31. Matson has a fifty-two week low of $21.63 and a fifty-two week high of $40.32. The company has a current ratio of 0.93, a quick ratio of 1.07 and a debt-to-equity ratio of 1.22.
Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $516.10 million for the quarter, compared to the consensus estimate of $504.61 million. Matson had a net margin of 11.33% and a return on equity of 14.40%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $0.80 dividend on an annualized basis and a yield of 2.69%. Matson’s dividend payout ratio is currently 14.90%.
Hedge funds have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in Matson in the 3rd quarter worth about $191,000. UBS Asset Management Americas Inc. bought a new position in Matson in the 4th quarter worth about $209,000. Verition Fund Management LLC bought a new position in Matson in the 4th quarter worth about $218,000. Crossmark Global Holdings Inc. bought a new position in Matson in the 3rd quarter worth about $234,000. Finally, Aperio Group LLC grew its stake in Matson by 37.1% in the 3rd quarter. Aperio Group LLC now owns 11,289 shares of the shipping company’s stock worth $318,000 after acquiring an additional 3,054 shares in the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.
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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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