Matson, Inc. (MATX) Expected to Post Earnings of $0.29 Per Share
Wall Street analysts expect that Matson, Inc. (NYSE:MATX) will post earnings of $0.29 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Matson’s earnings, with estimates ranging from $0.25 to $0.33. Matson reported earnings per share of $0.44 during the same quarter last year, which suggests a negative year over year growth rate of 34.1%. The firm is expected to report its next quarterly earnings results on Tuesday, February 20th.
According to Zacks, analysts expect that Matson will report full-year earnings of $1.76 per share for the current year, with EPS estimates ranging from $1.60 to $1.84. For the next financial year, analysts forecast that the firm will post earnings of $1.85 per share, with EPS estimates ranging from $1.75 to $1.90. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Matson.
Matson (NYSE:MATX) last issued its earnings results on Thursday, November 2nd. The shipping company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.59 by $0.20. Matson had a return on equity of 17.49% and a net margin of 4.12%. The business had revenue of $543.90 million for the quarter, compared to the consensus estimate of $531.61 million. During the same period last year, the business posted $0.59 EPS. The company’s revenue was up 8.7% compared to the same quarter last year.
Several analysts have commented on the company. Wells Fargo & Co reiterated an “underperform” rating and set a $22.00 target price on shares of Matson in a research note on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 target price (up from $30.00) on shares of Matson in a research note on Thursday, September 21st. Zacks Investment Research upgraded Matson from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, November 7th. Finally, BidaskClub upgraded Matson from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.25.
In other news, President Ronald J. Forest sold 16,491 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $29.28, for a total value of $482,856.48. Following the transaction, the president now directly owns 94,977 shares in the company, valued at approximately $2,780,926.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MATX. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Matson by 45.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 2,244,912 shares of the shipping company’s stock worth $63,262,000 after buying an additional 701,610 shares during the last quarter. Capital Research Global Investors purchased a new position in shares of Matson in the 2nd quarter worth $15,531,000. Citadel Advisors LLC boosted its stake in shares of Matson by 198.1% in the 2nd quarter. Citadel Advisors LLC now owns 212,674 shares of the shipping company’s stock worth $6,388,000 after buying an additional 141,336 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Matson by 201.1% in the 3rd quarter. GSA Capital Partners LLP now owns 139,479 shares of the shipping company’s stock worth $3,931,000 after buying an additional 93,158 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Matson by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,923,215 shares of the shipping company’s stock worth $117,853,000 after purchasing an additional 79,971 shares during the period. Hedge funds and other institutional investors own 84.13% of the company’s stock.
Shares of Matson (NYSE:MATX) traded up $0.10 on Monday, reaching $30.33. The company’s stock had a trading volume of 120,150 shares, compared to its average volume of 223,991. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.56. Matson has a 1-year low of $21.63 and a 1-year high of $37.32. The stock has a market cap of $1,283.20, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 3.44 and a beta of 1.27.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 7th. Stockholders of record on Thursday, November 9th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.64%. Matson’s dividend payout ratio (DPR) is currently 41.24%.
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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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