Shares of Matson Inc (NYSE:MATX) have been given a consensus recommendation of “Buy” by the nine ratings firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $37.00.
Several research firms have weighed in on MATX. Zacks Investment Research raised Matson from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. ValuEngine raised Matson from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. Stephens set a $33.00 price target on Matson and gave the stock a “hold” rating in a research report on Monday, April 9th. Oppenheimer set a $52.00 price target on Matson and gave the stock a “buy” rating in a research report on Wednesday, May 2nd. Finally, TheStreet raised Matson from a “c+” rating to a “b-” rating in a report on Thursday, May 24th.
In related news, President Ronald J. Forest sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $30.63, for a total transaction of $367,560.00. Following the transaction, the president now directly owns 65,884 shares of the company’s stock, valued at approximately $2,018,026.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark H. Fukunaga bought 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The shares were acquired at an average cost of $35.20 per share, for a total transaction of $105,600.00. Following the completion of the acquisition, the director now directly owns 55,675 shares in the company, valued at approximately $1,959,760. The disclosure for this purchase can be found here. Insiders have sold a total of 17,558 shares of company stock worth $548,104 over the last three months. 2.48% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Matson in the 1st quarter valued at $135,000. UBS Asset Management Americas Inc. acquired a new position in Matson in the 4th quarter valued at $209,000. Verition Fund Management LLC acquired a new position in Matson in the 4th quarter valued at $218,000. UBS Group AG grew its holdings in Matson by 1,157.3% in the 1st quarter. UBS Group AG now owns 7,883 shares of the shipping company’s stock valued at $225,000 after buying an additional 7,256 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Matson by 35.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 9,855 shares of the shipping company’s stock valued at $282,000 after buying an additional 2,585 shares in the last quarter. 84.16% of the stock is currently owned by hedge funds and other institutional investors.
Matson opened at $39.20 on Tuesday, Marketbeat reports. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 22.02, a P/E/G ratio of 3.47 and a beta of 1.46. Matson has a twelve month low of $21.63 and a twelve month high of $40.32. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.27.
Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, May 1st. The shipping company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.10. The firm had revenue of $511.40 million for the quarter, compared to analyst estimates of $463.48 million. Matson had a return on equity of 14.30% and a net margin of 11.48%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 EPS. research analysts forecast that Matson will post 2.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 6th. Investors of record on Thursday, August 2nd will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.14%. Matson’s payout ratio is presently 44.94%.
Matson Company Profile
Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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