Analysts predict that Matson, Inc. (NYSE:MATX) will announce earnings per share of $0.24 for the current quarter, Zacks reports. Four analysts have made estimates for Matson’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.19. Matson reported earnings per share of $0.16 during the same quarter last year, which would suggest a positive year-over-year growth rate of 50%. The business is expected to report its next earnings report on Wednesday, May 2nd.
According to Zacks, analysts expect that Matson will report full-year earnings of $2.12 per share for the current year, with EPS estimates ranging from $1.89 to $2.28. For the next fiscal year, analysts anticipate that the company will report earnings of $2.29 per share, with EPS estimates ranging from $1.84 to $2.45. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Matson.
Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, February 20th. The shipping company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.02). Matson had a return on equity of 14.40% and a net margin of 11.33%. The company had revenue of $516.10 million during the quarter, compared to the consensus estimate of $504.61 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year.
MATX has been the topic of a number of analyst reports. Wells Fargo raised Matson from an “underperform” rating to a “market perform” rating in a research report on Monday, January 29th. Zacks Investment Research raised Matson from a “hold” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Thursday, February 1st. Seaport Global Securities raised Matson from a “neutral” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Monday, January 29th. TheStreet cut Matson from a “b” rating to a “c+” rating in a research report on Friday, March 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $38.00 price target (up from $32.00) on shares of Matson in a research report on Monday, January 29th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.60.
Shares of Matson stock traded up $0.82 on Tuesday, hitting $30.40. The stock had a trading volume of 467,214 shares, compared to its average volume of 319,969. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 0.93. Matson has a 12-month low of $21.63 and a 12-month high of $40.32. The company has a market cap of $1,296.56, a PE ratio of 17.08, a P/E/G ratio of 2.80 and a beta of 1.42.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 8th were given a $0.20 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $0.80 annualized dividend and a yield of 2.63%. Matson’s dividend payout ratio (DPR) is presently 14.81%.
In related news, President Ronald J. Forest sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $29.56, for a total value of $295,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey N. Watanabe sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $29.37, for a total value of $102,795.00. The disclosure for this sale can be found here. Insiders sold a total of 31,215 shares of company stock worth $934,628 over the last ninety days. 2.60% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Advisers LP lifted its position in Matson by 5.5% in the 4th quarter. Two Sigma Advisers LP now owns 26,970 shares of the shipping company’s stock valued at $805,000 after acquiring an additional 1,400 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Matson by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 86,316 shares of the shipping company’s stock valued at $2,432,000 after buying an additional 1,806 shares during the period. American International Group Inc. lifted its holdings in shares of Matson by 5.7% during the 3rd quarter. American International Group Inc. now owns 33,964 shares of the shipping company’s stock valued at $957,000 after buying an additional 1,843 shares during the period. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Matson by 14.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 16,400 shares of the shipping company’s stock valued at $489,000 after buying an additional 2,100 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of Matson by 2.7% during the 3rd quarter. California Public Employees Retirement System now owns 83,418 shares of the shipping company’s stock valued at $2,351,000 after buying an additional 2,218 shares during the period. 84.10% of the stock is currently owned by institutional investors and hedge funds.
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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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