Matson (NYSE:MATX – Get 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
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
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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