Matson (NYSE:MATX) updated its second quarter 2020
After-Hours earnings guidance on Thursday. The company provided earnings per share guidance of 0.70-0.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.12.
NYSE MATX opened at $36.49 on Friday. The company has a market cap of $1.18 billion, a PE ratio of 21.22 and a beta of 1.11. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.34. Matson has a 12 month low of $23.75 and a 12 month high of $42.15. The stock has a 50 day moving average of $29.34 and a 200-day moving average of $32.46.
Matson (NYSE:MATX) last issued its earnings results on Tuesday, May 5th. The shipping company reported $0.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.09. The business had revenue of $513.90 million for the quarter, compared to the consensus estimate of $513.81 million. Matson had a net margin of 3.39% and a return on equity of 9.34%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.29 earnings per share. As a group, sell-side analysts predict that Matson will post 0.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, August 5th. This is a positive change from Matson’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a dividend yield of 2.52%. Matson’s payout ratio is currently 46.07%.
MATX has been the subject of a number of research analyst reports. Stephens cut Matson from an overweight rating to an equal weight rating and reduced their price target for the stock from $42.00 to $30.00 in a report on Monday, April 6th. Zacks Investment Research cut shares of Matson from a hold rating to a sell rating in a research report on Friday, May 8th. Finally, Stifel Nicolaus increased their price objective on shares of Matson from $35.00 to $44.00 and gave the company a positive rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $40.67.
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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