Brokerages forecast that Matson, Inc. (NYSE:MATX) will report sales of $532.77 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Matson’s earnings, with the highest sales estimate coming in at $549.96 million and the lowest estimate coming in at $521.50 million. Matson reported sales of $500.40 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The company 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 expect that the business will post sales of $2.07 billion per share, with estimates ranging from $1.97 billion to $2.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Matson.

Matson (NYSE:MATX) last posted its earnings results on Monday, July 31st. The shipping company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.11. The firm had revenue of $512.50 million during the quarter, compared to the consensus estimate of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 EPS.

A number of analysts have recently issued reports on MATX shares. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Thursday, August 3rd. BidaskClub lowered Matson from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Stifel Nicolaus raised Matson from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, August 18th. Finally, Stephens set a $40.00 price target on Matson and gave the stock a “buy” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Matson currently has an average rating of “Hold” and a consensus price target of $27.50.

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In related news, Director Jeffrey N. Watanabe acquired 4,100 shares of the stock in a transaction on Wednesday, August 23rd. The shares were bought at an average price of $24.07 per share, with a total value of $98,687.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas B. Fargo acquired 2,000 shares of the stock in a transaction on Monday, August 21st. The shares were bought 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. Insiders have acquired 12,200 shares of company stock worth $292,734 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC boosted its stake in Matson by 89.2% during the second quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock worth $108,000 after buying an additional 1,695 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Matson during the first quarter worth $119,000. UBS Group AG boosted its stake in Matson by 14.0% during the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock worth $127,000 after buying an additional 495 shares during the last quarter. Bank of Montreal Can boosted its stake in Matson by 10.9% during 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 during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new position in Matson during the second quarter worth $248,000. 84.13% of the stock is currently owned by institutional investors.

Matson (NYSE MATX) opened at 28.08 on Friday. Matson has a 52-week low of $21.63 and a 52-week high of $42.00. The stock’s 50 day moving average price is $26.27 and its 200-day moving average price is $29.38. The company has a market capitalization of $1.21 billion, a P/E ratio of 16.13 and a beta of 1.22.

Matson Company Profile

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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