Matson Inc (NYSE:MATX) – Stock analysts at Seaport Global Securities decreased their Q3 2019 EPS estimates for Matson in a research report issued to clients and investors on Wednesday, November 28th. Seaport Global Securities analyst K. Sterling now anticipates that the shipping company will earn $0.95 per share for the quarter, down from their previous forecast of $1.01.
A number of other equities research analysts have also commented on MATX. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Wednesday, November 28th. ValuEngine lowered Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Stifel Nicolaus lowered Matson from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research report on Tuesday, November 20th. Finally, Wells Fargo & Co lowered Matson to a “hold” rating and set a $35.00 price target for the company. in a research report on Friday, September 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Matson has a consensus rating of “Buy” and a consensus target price of $41.33.
Shares of NYSE:MATX opened at $39.35 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.16. Matson has a twelve month low of $27.73 and a twelve month high of $41.96. The company has a market cap of $1.68 billion, a PE ratio of 22.11, a PEG ratio of 3.18 and a beta of 1.39.
Matson (NYSE:MATX) last issued its earnings results on Monday, November 5th. The shipping company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Matson had a return on equity of 14.31% and a net margin of 11.74%. The company had revenue of $589.40 million for the quarter, compared to analyst estimates of $565.67 million. During the same period in the prior year, the firm earned $0.79 earnings per share. Matson’s revenue for the quarter was up 8.4% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Thursday, November 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, November 7th. Matson’s payout ratio is currently 47.19%.
In related news, Director Mark H. Fukunaga purchased 4,000 shares of the stock in a transaction that occurred on Friday, September 7th. The stock was acquired at an average cost of $36.24 per share, with a total value of $144,960.00. Following the transaction, the director now owns 10,432 shares of the company’s stock, valued at approximately $378,055.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ronald J. Forest sold 1,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $37.02, for a total value of $37,020.00. Following the completion of the sale, the president now directly owns 62,884 shares of the company’s stock, valued at $2,327,965.68. The disclosure for this sale can be found here. Insiders sold a total of 3,000 shares of company stock valued at $111,810 over the last three months. 2.48% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates bought a new position in Matson in the 2nd quarter valued at $624,000. Alps Advisors Inc. grew its stake in Matson by 161.1% in the 3rd quarter. Alps Advisors Inc. now owns 76,780 shares of the shipping company’s stock valued at $3,044,000 after purchasing an additional 47,379 shares during the period. Brown Advisory Inc. bought a new position in Matson in the 2nd quarter valued at $1,384,000. Bank of Montreal Can grew its stake in Matson by 656.6% in the 3rd quarter. Bank of Montreal Can now owns 25,007 shares of the shipping company’s stock valued at $992,000 after purchasing an additional 21,702 shares during the period. Finally, Globeflex Capital L P grew its stake in Matson by 40.5% in the 3rd quarter. Globeflex Capital L P now owns 45,433 shares of the shipping company’s stock valued at $1,801,000 after purchasing an additional 13,098 shares during the period. 83.52% of the stock is owned by institutional investors and hedge funds.
Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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