Matson (NYSE:MATX) released its earnings results on Thursday. The shipping company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.01, Briefing.com reports. The company had revenue of $572.10 million during the quarter, compared to the consensus estimate of $574.44 million. Matson had a return on equity of 12.30% and a net margin of 4.15%. Matson’s revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS.
NYSE MATX traded down $1.30 during trading on Friday, hitting $38.54. The stock had a trading volume of 292,735 shares, compared to its average volume of 154,958. The company has a market capitalization of $1.63 billion, a PE ratio of 15.23, a PEG ratio of 3.99 and a beta of 1.59. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.28. The firm has a 50 day moving average price of $37.88 and a 200 day moving average price of $37.79. Matson has a twelve month low of $30.60 and a twelve month high of $42.15.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.28%. The ex-dividend date is Wednesday, November 6th. Matson’s dividend payout ratio is currently 34.78%.
MATX has been the subject of several research reports. ValuEngine raised Matson from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Matson from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th.
In other news, insider Vic S. Angoco, Jr. sold 16,100 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.14, for a total transaction of $565,754.00. Following the completion of the transaction, the insider now directly owns 43,926 shares of the company’s stock, valued at $1,543,559.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Rusty K. Rolfe sold 3,047 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $40.67, for a total value of $123,921.49. Following the transaction, the senior vice president now directly owns 56,304 shares of the company’s stock, valued at $2,289,883.68. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
Matson Company Profile
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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