Equities analysts expect Matson, Inc. (NYSE:MATX) to post earnings of $0.61 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Matson’s earnings. The highest EPS estimate is $0.62 and the lowest is $0.60. Matson posted earnings per share of $0.58 in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.2%. The firm is scheduled to issue its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Matson will report full year earnings of $1.68 per share for the current fiscal year, with EPS estimates ranging from $1.62 to $1.73. For the next year, analysts expect that the company will post earnings of $1.83 per share, with EPS estimates ranging from $1.74 to $1.93. Zacks’ EPS averages are an average based on a survey of sell-side research firms that cover Matson.
Matson (NYSE:MATX) last issued its earnings results on Monday, July 31st. The shipping company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. Matson had a net margin of 3.76% and a return on equity of 16.10%. The company had revenue of $512.50 million for the quarter, compared to the consensus estimate of $495.19 million. During the same quarter in the previous year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year.
A number of research analysts recently commented on MATX shares. BidaskClub cut Matson from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. TheStreet cut Matson from a “b-” rating to a “c+” rating in a research report on Monday, May 22nd. Stephens cut Matson from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $38.00 to $23.00 in a research report on Friday, August 18th. Wells Fargo & Company cut Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price target on the stock. in a research report on Friday, August 18th. Finally, Zacks Investment Research cut Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Matson currently has a consensus rating of “Hold” and a consensus target price of $27.00.
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In other Matson news, Director Thomas B. Fargo acquired 2,000 shares of Matson stock in a transaction that occurred on Monday, August 21st. The shares were acquired at an average cost of $23.61 per share, with a total value of $47,220.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joel M. Wine acquired 6,100 shares of Matson stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average cost of $24.07 per share, for a total transaction of $146,827.00. Following the completion of the purchase, the chief financial officer now directly owns 99,411 shares of the company’s stock, valued at $2,392,822.77. The disclosure for this purchase can be found here. Insiders purchased 12,200 shares of company stock worth $292,734 over the last ninety days. 2.60% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC boosted its stake in Matson by 89.2% in the second quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock valued at $108,000 after buying an additional 1,695 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Matson in the first quarter valued at about $119,000. UBS Group AG boosted its stake in Matson by 14.0% in the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock valued at $127,000 after buying an additional 495 shares in the last quarter. Bank of Montreal Can boosted its stake in Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock valued at $140,000 after buying an additional 434 shares in the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in Matson in the second quarter valued at about $248,000. 84.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of Matson (NYSE MATX) traded up 0.54% during midday trading on Friday, hitting $25.99. 676,032 shares of the stock traded hands. The company has a market capitalization of $1.12 billion, a P/E ratio of 14.93 and a beta of 1.17. Matson has a 1-year low of $21.63 and a 1-year high of $42.00. The stock has a 50 day moving average of $27.13 and a 200 day moving average of $29.98.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 3rd were given a $0.20 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from Matson’s previous quarterly dividend of $0.19. Matson’s dividend payout ratio (DPR) is presently 46.24%.
Matson Company Profile
Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.
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