$499.75 Million in Sales Expected for Matson, Inc. (MATX) This Quarter

Analysts expect that Matson, Inc. (NYSE:MATX) will report $499.75 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Matson’s earnings. The lowest sales estimate is $480.70 million and the highest is $517.70 million. Matson reported sales of $519.30 million in the same quarter last year, which indicates a negative year over year growth rate of 3.8%. The business is scheduled to announce its next earnings results on Tuesday, February 20th.

According to Zacks, analysts expect that Matson will report full-year sales of $499.75 million for the current fiscal year, with estimates ranging from $2.01 billion to $2.05 billion. For the next financial year, analysts forecast that the firm will post sales of $2.07 billion per share, with estimates ranging from $1.97 billion to $2.15 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Matson.

Matson (NYSE:MATX) last posted its earnings results on Thursday, November 2nd. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.20. Matson had a return on equity of 17.49% and a net margin of 4.12%. The firm had revenue of $543.90 million during the quarter, compared to analysts’ expectations of $531.61 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis.

A number of research analysts have issued reports on the company. BidaskClub raised Matson from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. Stifel Nicolaus upgraded Matson from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Friday, August 18th. Zacks Investment Research lowered Matson from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Wells Fargo & Company lowered Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price target on the stock. in a report on Friday, August 18th. Finally, Stephens lowered Matson from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $38.00 to $23.00 in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Matson has an average rating of “Hold” and an average target price of $27.25.

In related news, President Ronald J. Forest sold 16,491 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $29.28, for a total transaction of $482,856.48. Following the sale, the president now owns 94,977 shares in the company, valued at $2,780,926.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.60% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MATX. FMR LLC raised its holdings in Matson by 4.6% during the first quarter. FMR LLC now owns 20,300 shares of the shipping company’s stock worth $645,000 after acquiring an additional 900 shares in the last quarter. Teachers Advisors LLC raised its holdings in Matson by 5.0% during the first quarter. Teachers Advisors LLC now owns 74,519 shares of the shipping company’s stock worth $2,367,000 after acquiring an additional 3,574 shares in the last quarter. UBS Group AG raised its holdings 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 acquiring an additional 495 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Matson during the first quarter worth about $2,017,000. Finally, Credit Suisse AG raised its holdings in Matson by 16.4% during the first quarter. Credit Suisse AG now owns 56,746 shares of the shipping company’s stock worth $1,802,000 after acquiring an additional 8,010 shares in the last quarter. Institutional investors and hedge funds own 83.95% of the company’s stock.

Matson (NYSE MATX) opened at $29.15 on Friday. Matson has a 52 week low of $21.63 and a 52 week high of $40.26. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $1,191.09, a PE ratio of 14.46, a price-to-earnings-growth ratio of 3.20 and a beta of 1.23.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 9th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.74%. Matson’s dividend payout ratio (DPR) is 41.24%.

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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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