Analysts forecast that Matson Inc (NYSE:MATX) will post earnings per share (EPS) of $0.83 for the current quarter, Zacks reports. Two analysts have made estimates for Matson’s earnings. Matson posted earnings per share of $0.97 during the same quarter last year, which would indicate a negative year over year growth rate of 14.4%. The company is scheduled to announce its next quarterly earnings report on Monday, November 4th.
On average, analysts expect that Matson will report full-year earnings of $2.10 per share for the current financial year, with EPS estimates ranging from $1.96 to $2.36. For the next financial year, analysts forecast that the business will report earnings of $2.54 per share, with EPS estimates ranging from $2.27 to $2.75. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Matson.
Matson (NYSE:MATX) last released its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.20). Matson had a net margin of 4.15% and a return on equity of 12.30%. The firm had revenue of $557.90 million for the quarter, compared to analysts’ expectations of $577.55 million. During the same quarter in the previous year, the business earned $0.76 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis.
A number of brokerages have recently issued reports on MATX. Zacks Investment Research cut Matson from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. ValuEngine raised Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Matson presently has an average rating of “Hold” and an average target price of $40.25.
NYSE MATX opened at $40.41 on Tuesday. The stock’s 50-day simple moving average is $37.17 and its two-hundred day simple moving average is $37.41. Matson has a twelve month low of $30.60 and a twelve month high of $42.15. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 3.47 and a beta of 1.62.
In related news, CEO Matthew J. Cox sold 23,500 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $37.54, for a total value of $882,190.00. Following the sale, the chief executive officer now directly owns 244,742 shares of the company’s stock, valued at $9,187,614.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vic S. Angoco, Jr. sold 16,100 shares of Matson stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $35.14, for a total value of $565,754.00. Following the sale, the insider now directly owns 43,926 shares in the company, valued at $1,543,559.64. The disclosure for this sale can be found here. Insiders have sold 69,600 shares of company stock worth $2,586,144 over the last ninety days. Insiders own 2.00% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MATX. Quantamental Technologies LLC purchased a new position in Matson in the 1st quarter worth approximately $33,000. US Bancorp DE grew its position in shares of Matson by 38.3% during the 2nd quarter. US Bancorp DE now owns 1,051 shares of the shipping company’s stock valued at $41,000 after acquiring an additional 291 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of Matson during the 2nd quarter valued at $53,000. Tower Research Capital LLC TRC bought a new position in Matson in the 2nd quarter worth $78,000. Finally, River & Mercantile Asset Management LLP bought a new position in Matson in the 2nd quarter worth $82,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.
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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