Wall Street brokerages expect Matson Inc (NYSE:MATX) to post sales of $567.51 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Matson’s earnings, with estimates ranging from $566.10 million to $568.91 million. Matson posted sales of $589.40 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.7%. The company is scheduled to report its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that Matson will report full-year sales of $2.19 billion for the current financial year, with estimates ranging from $2.19 billion to $2.20 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $2.27 billion, with estimates ranging from $2.24 billion to $2.29 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Matson.
Matson (NYSE:MATX) last released its earnings results on Wednesday, August 7th. The shipping company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.20). Matson had a return on equity of 12.30% and a net margin of 4.15%. The business had revenue of $557.90 million during the quarter, compared to analysts’ expectations of $577.55 million. During the same period last year, the business earned $0.76 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year.
In related news, CEO Matthew J. Cox sold 23,500 shares of Matson stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $37.54, for a total value of $882,190.00. Following the completion of the sale, the chief executive officer now owns 244,742 shares in the company, valued at approximately $9,187,614.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vic S. Angoco, Jr. sold 16,100 shares of Matson stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $35.14, for a total transaction of $565,754.00. Following the completion of the sale, the insider now owns 43,926 shares of the company’s stock, valued at approximately $1,543,559.64. The disclosure for this sale can be found here. Insiders have sold a total of 42,647 shares of company stock valued at $1,571,865 in the last 90 days. Insiders own 2.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC purchased a new position in Matson in the 1st quarter valued at approximately $33,000. US Bancorp DE boosted its position in Matson by 38.3% in the 2nd quarter. US Bancorp DE now owns 1,051 shares of the shipping company’s stock valued at $41,000 after buying an additional 291 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Matson in the 2nd quarter valued at approximately $53,000. Tower Research Capital LLC TRC purchased a new position in Matson in the 2nd quarter valued at approximately $78,000. Finally, River & Mercantile Asset Management LLP purchased a new position in Matson in the 2nd quarter valued at approximately $82,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.
MATX traded down $0.76 during trading on Thursday, reaching $39.00. The company’s stock had a trading volume of 137,100 shares, compared to its average volume of 154,736. 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 fifty day simple moving average of $37.12 and a two-hundred day simple moving average of $37.56. Matson has a 1 year low of $30.60 and a 1 year high of $42.15. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 4.05 and a beta of 1.62.
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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