Weekly Investment Analysts’ Ratings Changes for Matson (MATX)
A number of research firms have changed their ratings and price targets for Matson (NYSE: MATX):
- 8/31/2017 – Matson was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
- 8/23/2017 – Matson was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 8/18/2017 – Matson was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating. They now have a $23.00 price target on the stock, down previously from $38.00.
- 8/18/2017 – Matson was downgraded by analysts at Wells Fargo & Company from a “market perform” rating to an “underperform” rating. They now have a $22.00 price target on the stock.
- 8/18/2017 – Matson was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $30.00 price target on the stock.
- 8/9/2017 – Matson was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
- 8/3/2017 – Matson was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $33.00 price target on the stock. According to Zacks, “Matson, Inc. operates as an ocean transportation and logistics company. It offers shipping services in Hawaii, Guam, and Micronesia islands and expedited service from China to southern California. The company’s logistics services consist of rail intermodal service, long haul and regional highway truckload services, less-than-truckload transportation, specialized hauling, flatbed, and project works, warehousing and distribution services, transloading, cross-dock services, and packaging services, and network analysis and freight management services. Matson, Inc., formerly known as Alexander & Baldwin Holdings, Inc., is headquartered in Honolulu, Hawaii. “
- 8/2/2017 – Matson was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 7/27/2017 – Matson was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
Matson, Inc. (MATX) traded up 0.58% during midday trading on Thursday, hitting $26.21. 106,808 shares of the stock traded hands. The stock has a market cap of $1.13 billion, a PE ratio of 15.05 and a beta of 1.17. Matson, Inc. has a 12 month low of $21.63 and a 12 month high of $43.00. The company has a 50-day moving average of $27.76 and a 200-day moving average of $30.26.
Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. Matson had a return on equity of 16.10% and a net margin of 3.76%. The business had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. During the same quarter in the prior year, the company posted $0.42 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities research analysts anticipate that Matson, Inc. will post $1.68 earnings per share for the current year.
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 paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Tuesday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.19. Matson’s dividend payout ratio is 46.24%.
In other news, Director W Blake Baird sold 2,578 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $29.98, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas B. Fargo purchased 2,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $23.61 per share, for a total transaction of $47,220.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 12,200 shares of company stock worth $292,734. Corporate insiders own 2.60% of the company’s stock.
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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