Matson, Inc. (MATX) Scheduled to Post Quarterly Earnings on Monday
Matson, Inc. (NYSE:MATX) is scheduled to be announcing its earnings results after the market closes on Monday, November 6th. Analysts expect the company to announce earnings of $0.59 per share for the quarter.
Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, beating the 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 during the quarter, compared to analyst estimates of $495.19 million. During the same period in the prior year, the company earned $0.42 earnings per share. Matson’s revenue was up 9.6% compared to the same quarter last year. On average, analysts expect Matson to post $1.66 EPS for the current fiscal year and $1.84 EPS for the next fiscal year.
Matson, Inc. (NYSE MATX) opened at 27.64 on Monday. The firm’s 50-day moving average price is $27.30 and its 200 day moving average price is $28.94. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 15.88 and a beta of 1.22. Matson, Inc. has a one year low of $21.63 and a one year high of $42.00.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.89%. Matson’s dividend payout ratio is presently 46.24%.
In related news, Director Jeffrey N. Watanabe acquired 4,100 shares of Matson stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average cost of $24.07 per share, for a total transaction of $98,687.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the sale, the director now owns 15,583 shares of the company’s stock, valued at $467,178.34. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 12,200 shares of company stock valued at $292,734. Company insiders own 2.60% of the company’s stock.
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A number of equities research analysts have weighed in on the stock. Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Thursday, August 3rd. BidaskClub lowered shares of Matson from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Wells Fargo & Company lowered shares of Matson from a “market perform” rating to an “underperform” rating and set a $22.00 target price for the company. in a research note on Friday, August 18th. Finally, Stephens lowered shares of Matson from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $38.00 to $23.00 in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $27.50.
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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