Matson, Inc. (MATX) Expected to Post Earnings of $0.61 Per Share

Wall Street analysts expect Matson, Inc. (NYSE:MATX) to report $0.61 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Matson’s earnings. The highest EPS estimate is $0.62 and the lowest is $0.60. Matson posted earnings per share of $0.58 in the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The business is expected to report its next quarterly earnings report on Monday, November 6th.

On average, analysts expect that Matson will report full year earnings of $1.68 per share for the current financial year, with EPS estimates ranging from $1.62 to $1.73. For the next financial year, analysts forecast that the business will report earnings of $1.83 per share, with EPS estimates ranging from $1.74 to $1.93. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Matson.

Matson (NYSE:MATX) last issued its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.11. The business had revenue of $512.50 million during the quarter, compared to the consensus estimate of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share.

A number of research analysts have commented on the company. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Thursday, August 3rd. Stifel Nicolaus raised Matson from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Friday, August 18th. Stephens set a $40.00 price target on Matson and gave the company a “buy” rating in a research report on Saturday, June 10th. BidaskClub lowered Matson from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Finally, Wells Fargo & Company lowered Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price target for the company. in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.00.

Shares of Matson (NYSE MATX) traded up 1.35% during midday trading on Friday, reaching $26.35. The company’s stock had a trading volume of 259,163 shares. Matson has a 12-month low of $21.63 and a 12-month high of $42.00. The company has a market capitalization of $1.14 billion, a P/E ratio of 15.13 and a beta of 1.17. The company’s 50-day moving average price is $26.93 and its 200 day moving average price is $29.73.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd were given a $0.20 dividend. The ex-dividend date was Tuesday, August 1st. This represents a $0.80 annualized dividend and a dividend yield of 3.04%. This is a positive change from Matson’s previous quarterly dividend of $0.19. Matson’s dividend payout ratio is currently 46.24%.

In other news, Director Thomas B. Fargo bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was purchased at an average price of $23.61 per share, with a total value of $47,220.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey N. Watanabe bought 4,100 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average cost of $24.07 per share, with a total value of $98,687.00. The disclosure for this purchase can be found here. Insiders bought a total of 12,200 shares of company stock valued at $292,734 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Large investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in Matson by 83,732.7% during the 1st quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock valued at $189,865,000 after buying an additional 5,970,976 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Matson by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 58,587 shares of the shipping company’s stock valued at $1,759,000 after buying an additional 1,788 shares in the last quarter. Vanguard Group Inc. increased its position in Matson by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock valued at $122,062,000 after buying an additional 195,335 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Matson by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 243,875 shares of the shipping company’s stock valued at $7,746,000 after buying an additional 20,000 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Matson by 1.8% during the 1st quarter. Arizona State Retirement System now owns 22,485 shares of the shipping company’s stock valued at $714,000 after buying an additional 400 shares in the last quarter. 84.13% of the stock is owned by hedge funds and other institutional investors.

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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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