Matson (NYSE:MATX) Updates Q1 2021 Earnings Guidance


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Matson (NYSE:MATX) updated its first quarter 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.830-1.930 for the period, compared to the Thomson Reuters consensus estimate of $1.290. The company issued revenue guidance of -.

MATX stock traded down $2.10 during mid-day trading on Tuesday, hitting $65.46. 300,416 shares of the company were exchanged, compared to its average volume of 294,518. Matson has a 1-year low of $23.75 and a 1-year high of $79.05. The stock has a market capitalization of $2.84 billion, a PE ratio of 22.95 and a beta of 0.99. The business has a 50 day simple moving average of $69.46 and a 200-day simple moving average of $63.66. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, April 27th. The shipping company reported $1.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.36. Matson had a return on equity of 14.86% and a net margin of 5.54%. Equities research analysts expect that Matson will post 3.93 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 3rd. Stockholders of record on Thursday, May 6th will be given a $0.23 dividend. The ex-dividend date is Wednesday, May 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.41%. Matson’s payout ratio is presently 48.17%.

Separately, Stephens lowered shares of Matson from an overweight rating to an equal weight rating and lowered their price target for the stock from $80.00 to $70.00 in a research report on Thursday, April 29th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $54.00.

In related news, SVP Richard S. Kinney sold 750 shares of the firm’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $67.91, for a total value of $50,932.50. Following the transaction, the senior vice president now owns 9,643 shares in the company, valued at $654,856.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Laura L. Rascon sold 1,300 shares of the company’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $76.37, for a total transaction of $99,281.00. Following the sale, the senior vice president now directly owns 5,484 shares of the company’s stock, valued at approximately $418,813.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,050 shares of company stock worth $826,614. Corporate insiders own 1.95% of the company’s stock.

Matson Company Profile

Matson, Inc, together with its subsidiaries, 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.

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