Zacks: Analysts Expect Matson, Inc. (NYSE:MATX) Will Post Quarterly Sales of $492.48 Million
Wall Street brokerages expect that Matson, Inc. (NYSE:MATX) will report sales of $492.48 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Matson’s earnings, with the lowest sales estimate coming in at $469.50 million and the highest estimate coming in at $518.71 million. Matson posted sales of $467.70 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The company is expected to issue its next quarterly earnings report after the market closes on Monday, July 31st.
On average, analysts expect that Matson will report full-year sales of $492.48 million for the current fiscal year, with estimates ranging from $1.97 billion to $2.09 billion. For the next year, analysts forecast that the company will post sales of $2.09 billion per share, with estimates ranging from $1.97 billion to $2.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Matson.
Matson (NYSE:MATX) last released its earnings results on Wednesday, May 3rd. The shipping company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The firm had revenue of $474.40 million during the quarter, compared to analyst estimates of $417.03 million. Matson had a net margin of 3.54% and a return on equity of 15.16%. The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS.
Several brokerages have recently issued reports on MATX. Zacks Investment Research cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub raised shares of Matson from a “strong sell” rating to a “sell” rating in a research report on Friday, June 30th. Stephens set a $40.00 price target on shares of Matson and gave the stock a “buy” rating in a research report on Saturday, June 10th. Finally, TheStreet cut shares of Matson from a “b-” rating to a “c+” rating in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $38.00.
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Shares of Matson (NYSE MATX) opened at 29.62 on Friday. Matson has a 12-month low of $28.07 and a 12-month high of $43.00. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 18.51 and a beta of 1.14. The stock has a 50 day moving average of $29.88 and a 200 day moving average of $32.24.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 3rd will be issued a $0.20 dividend. This is a boost from Matson’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, August 1st. This represents a $0.80 annualized dividend and a yield of 2.70%. Matson’s dividend payout ratio (DPR) is 47.80%.
In related news, CEO Matthew J. Cox sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $32.16, for a total value of $643,200.00. Following the sale, the chief executive officer now owns 241,720 shares of the company’s stock, valued at $7,773,715.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stanley M. Kuriyama bought 3,300 shares of Matson stock in a transaction that occurred on Wednesday, May 17th. The stock was purchased at an average cost of $29.75 per share, for a total transaction of $98,175.00. Following the acquisition, the director now owns 32,932 shares of the company’s stock, valued at $979,727. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Matson by 83,732.7% in the first quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock valued at $189,865,000 after buying an additional 5,970,976 shares during the period. Vanguard Group Inc. boosted its stake in shares of Matson by 5.4% in the first quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock valued at $122,062,000 after buying an additional 195,335 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Matson by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,404,954 shares of the shipping company’s stock valued at $44,621,000 after buying an additional 39,440 shares during the period. State Street Corp boosted its stake in shares of Matson by 3.6% in the first quarter. State Street Corp now owns 1,063,682 shares of the shipping company’s stock valued at $33,783,000 after buying an additional 36,623 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of Matson by 4.5% in the first quarter. Macquarie Group Ltd. now owns 865,715 shares of the shipping company’s stock valued at $27,495,000 after buying an additional 37,400 shares during the period. 84.15% of the stock is currently owned by hedge funds and other institutional investors.
Matson, Inc is a transportation company in the Marine industry.
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