Zacks: Brokerages Anticipate Matson, Inc. (MATX) to Post $0.31 Earnings Per Share

Equities research analysts forecast that Matson, Inc. (NYSE:MATX) will post earnings of $0.31 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Matson’s earnings, with estimates ranging from $0.25 to $0.39. Matson reported earnings per share of $0.44 in the same quarter last year, which indicates a negative year-over-year growth rate of 29.5%. The company is scheduled to issue its next earnings report after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that Matson will report full year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.76 to $1.90. For the next financial year, analysts expect that the firm will report earnings of $2.16 per share, with EPS estimates ranging from $1.84 to $2.40. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Matson.

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

Several equities analysts recently issued reports on MATX shares. BidaskClub cut shares of Matson from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Wells Fargo & Co raised shares of Matson from an “underperform” rating to a “market perform” rating in a report on Monday, January 29th. Zacks Investment Research raised shares of Matson from a “hold” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Thursday, February 1st. Seaport Global Securities raised shares of Matson from a “neutral” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Monday, January 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $38.00 target price (up previously from $32.00) on shares of Matson in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $32.60.

Shares of Matson (NYSE:MATX) opened at $35.39 on Wednesday. The firm has a market cap of $1,460.63, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 3.33 and a beta of 1.31. Matson has a 12-month low of $21.63 and a 12-month high of $40.32. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.07 and a current ratio of 1.07.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Thursday, February 8th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 7th. This represents a $0.80 annualized dividend and a dividend yield of 2.26%. Matson’s dividend payout ratio is presently 41.24%.

Institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in Matson in the third quarter valued at approximately $191,000. Crossmark Global Holdings Inc. acquired a new stake in Matson in the third quarter valued at approximately $234,000. Virtu KCG Holdings LLC acquired a new stake in Matson in the second quarter valued at approximately $248,000. Piedmont Investment Advisors LLC acquired a new stake in Matson in the second quarter valued at approximately $280,000. Finally, Aperio Group LLC raised its holdings in Matson by 37.1% in the third quarter. Aperio Group LLC now owns 11,289 shares of the shipping company’s stock valued at $318,000 after acquiring an additional 3,054 shares in the last quarter. 84.85% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Matson (NYSE:MATX)

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