Matson (NYSE:MATX) Releases Quarterly Earnings Results, Beats Expectations By $0.91 EPS

Matson (NYSE:MATXGet Free Report) announced its earnings results on Wednesday. The shipping company reported $5.89 earnings per share for the quarter, beating the consensus estimate of $4.98 by $0.91, Briefing.com reports. Matson had a return on equity of 13.87% and a net margin of 10.41%. The business had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $965.73 million. During the same quarter last year, the business posted $3.40 earnings per share. The company’s quarterly revenue was up 16.3% on a year-over-year basis.

Matson Stock Up 15.2 %

Shares of NYSE MATX traded up $20.37 during mid-day trading on Thursday, reaching $153.96. The company had a trading volume of 334,626 shares, compared to its average volume of 271,810. The stock has a fifty day moving average of $135.07 and a two-hundred day moving average of $126.76. The company has a market capitalization of $5.38 billion, a price-to-earnings ratio of 18.10 and a beta of 1.07. Matson has a 12-month low of $82.68 and a 12-month high of $155.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, November 7th. Matson’s payout ratio is 16.04%.

Insider Activity at Matson

In other Matson news, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now owns 9,392 shares of the company’s stock, valued at $1,274,776.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Matson news, EVP Peter T. Heilmann sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $129.37, for a total value of $1,293,700.00. Following the completion of the sale, the executive vice president now owns 38,356 shares in the company, valued at approximately $4,962,115.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jason Lee Taylor sold 1,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the transaction, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,712 shares of company stock valued at $4,149,098. 2.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MATX has been the topic of several recent research reports. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Stephens boosted their target price on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Get Our Latest Stock Report on MATX

About Matson

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Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.

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Earnings History for Matson (NYSE:MATX)

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