Equities research analysts expect Matson Inc (NYSE:MATX) to announce $512.42 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Matson’s earnings. The highest sales estimate is $515.00 million and the lowest is $509.84 million. Matson reported sales of $511.40 million in the same quarter last year, which indicates a positive year over year growth rate of 0.2%. The business is expected to report its next quarterly earnings report on Tuesday, May 7th.
On average, analysts expect that Matson will report full-year sales of $2.24 billion for the current financial year, with estimates ranging from $2.16 billion to $2.37 billion. For the next year, analysts anticipate that the company will report sales of $2.37 billion, with estimates ranging from $2.26 billion to $2.48 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Matson.
Matson (NYSE:MATX) last posted its quarterly earnings results on Thursday, February 21st. The shipping company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. Matson had a net margin of 4.90% and a return on equity of 15.13%. The business had revenue of $564.90 million for the quarter, compared to analysts’ expectations of $558.44 million. During the same period in the prior year, the company posted $0.28 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis.
MATX has been the topic of a number of recent analyst reports. Stifel Nicolaus cut shares of Matson from a “buy” rating to a “hold” rating and set a $43.00 price target on the stock. in a research note on Tuesday, November 20th. Stephens upgraded shares of Matson from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $40.00 to $44.00 in a research report on Monday, February 25th. Finally, Zacks Investment Research lowered shares of Matson from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $42.60.
In other Matson news, Director Michael J. Chun sold 4,398 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.79, for a total value of $153,006.42. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Ronald J. Forest sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $36.39, for a total transaction of $36,390.00. Following the transaction, the president now owns 62,870 shares in the company, valued at $2,287,839.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,398 shares of company stock worth $255,366. 2.00% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC purchased a new position in shares of Matson during the 4th quarter valued at approximately $67,000. Penserra Capital Management LLC bought a new position in Matson during the fourth quarter worth $131,000. LS Investment Advisors LLC lifted its stake in Matson by 238.4% during the fourth quarter. LS Investment Advisors LLC now owns 4,393 shares of the shipping company’s stock worth $141,000 after purchasing an additional 3,095 shares during the last quarter. Highland Capital Management LP bought a new position in Matson during the third quarter worth $205,000. Finally, Fruth Investment Management lifted its stake in Matson by 8.6% during the fourth quarter. Fruth Investment Management now owns 6,300 shares of the shipping company’s stock worth $201,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 84.65% of the company’s stock.
Shares of NYSE:MATX traded down $0.28 on Wednesday, reaching $35.72. 171,845 shares of the company were exchanged, compared to its average volume of 170,929. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.08. Matson has a 1-year low of $27.73 and a 1-year high of $41.96. The stock has a market cap of $1.57 billion, a PE ratio of 14.12 and a beta of 1.49.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 7th were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, February 6th. This represents a $0.84 dividend on an annualized basis and a yield of 2.35%. Matson’s dividend payout ratio (DPR) is 33.20%.
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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