Equities analysts expect Matson, Inc. (NYSE:MATX) to post sales of $532.77 million for the current quarter, according to Zacks. Four analysts have issued estimates for Matson’s earnings. The lowest sales estimate is $521.50 million and the highest is $549.96 million. Matson posted sales of $500.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The business is expected to announce its next earnings results on Monday, November 6th.

On average, analysts expect that Matson will report full-year sales of $532.77 million for the current fiscal year, with estimates ranging from $1.99 billion to $2.04 billion. For the next year, analysts forecast that the firm will report sales of $2.07 billion per share, with estimates ranging from $1.97 billion to $2.16 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Matson.

Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to the consensus estimate of $495.19 million. During the same period last year, the firm earned $0.42 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis.

Several brokerages have recently commented 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. 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. BidaskClub cut shares of Matson from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. TheStreet cut shares of Matson from a “b-” rating to a “c+” rating in a research report on Monday, May 22nd. Finally, Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, August 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $27.00.

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In other news, Director Jeffrey N. Watanabe acquired 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $24.07 per share, for a total transaction of $98,687.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Blake Baird sold 2,578 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $29.98, for a total transaction of $77,288.44. Following the transaction, the director now owns 15,583 shares of the company’s stock, valued at approximately $467,178.34. The disclosure for this sale can be found here. In the last quarter, insiders have bought 12,200 shares of company stock valued at $292,734. 2.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MATX. Teachers Advisors LLC boosted its position in shares of Matson by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 70,945 shares of the shipping company’s stock worth $2,511,000 after buying an additional 946 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock worth $140,000 after buying an additional 434 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Matson by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the shipping company’s stock worth $559,000 after buying an additional 400 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Matson by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the shipping company’s stock worth $151,000 after buying an additional 110 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Matson by 8.6% in the first quarter. Great West Life Assurance Co. Can now owns 56,799 shares of the shipping company’s stock worth $1,801,000 after buying an additional 4,503 shares in the last quarter. Hedge funds and other institutional investors own 84.23% of the company’s stock.

Shares of Matson (NYSE MATX) traded up 0.57% on Wednesday, hitting $24.78. The company had a trading volume of 67,743 shares. Matson has a 12 month low of $21.63 and a 12 month high of $43.00. The stock has a market cap of $1.07 billion, a PE ratio of 14.23 and a beta of 1.13. The company has a 50-day moving average of $28.72 and a 200 day moving average of $30.87.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be given a dividend of $0.20 per share. This is a boost from Matson’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.25%. Matson’s payout ratio is currently 46.24%.

About Matson

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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