Zacks: Brokerages Expect Matson Inc (NYSE:MATX) to Announce $0.83 Earnings Per Share

Equities research analysts expect that Matson Inc (NYSE:MATX) will post earnings per share of $0.83 for the current quarter, Zacks reports. Two analysts have issued estimates for Matson’s earnings. Matson posted earnings of $0.97 per share in the same quarter last year, which suggests a negative year over year growth rate of 14.4%. The firm is expected to announce its next quarterly earnings results on Monday, November 4th.

According to Zacks, analysts expect that Matson will report full year earnings of $2.01 per share for the current financial year, with EPS estimates ranging from $1.96 to $2.10. For the next financial year, analysts forecast that the firm will post earnings of $2.47 per share, with EPS estimates ranging from $2.27 to $2.59. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Matson.

Matson (NYSE:MATX) last posted its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.20). The company had revenue of $557.90 million for the quarter, compared to analysts’ expectations of $577.55 million. Matson had a net margin of 4.15% and a return on equity of 12.30%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the business earned $0.76 earnings per share.

Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Matson from a “hold” rating to a “sell” rating in a report on Saturday, August 10th. ValuEngine raised shares of Matson from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $40.25.

In other news, insider Vic S. Angoco, Jr. sold 16,100 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $35.14, for a total value of $565,754.00. Following the completion of the sale, the insider now directly owns 43,926 shares in the company, valued at $1,543,559.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew J. Cox sold 30,000 shares of the stock in a transaction dated Wednesday, June 19th. The shares were sold at an average price of $37.94, for a total transaction of $1,138,200.00. Following the completion of the sale, the chief executive officer now owns 274,742 shares of the company’s stock, valued at $10,423,711.48. The disclosure for this sale can be found here. Insiders sold 69,600 shares of company stock valued at $2,586,144 over the last quarter. Company insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors Inc. raised its position in shares of Matson by 6.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 10,781 shares of the shipping company’s stock valued at $389,000 after buying an additional 625 shares during the last quarter. TD Asset Management Inc. raised its position in shares of Matson by 0.6% in the first quarter. TD Asset Management Inc. now owns 50,198 shares of the shipping company’s stock valued at $1,812,000 after buying an additional 300 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of Matson by 3.7% in the first quarter. Mason Street Advisors LLC now owns 13,754 shares of the shipping company’s stock valued at $496,000 after buying an additional 492 shares during the last quarter. RK Capital Management LLC increased its position in Matson by 9.0% during the first quarter. RK Capital Management LLC now owns 151,600 shares of the shipping company’s stock worth $5,471,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Denali Advisors LLC increased its position in Matson by 229.1% during the second quarter. Denali Advisors LLC now owns 24,100 shares of the shipping company’s stock worth $936,000 after purchasing an additional 16,776 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

MATX traded up $0.39 during midday trading on Tuesday, hitting $40.80. 114,341 shares of the company traded hands, compared to its average volume of 138,023. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 3.85 and a beta of 1.62. Matson has a 52-week low of $30.60 and a 52-week high of $42.15. The business has a 50 day simple moving average of $37.16 and a two-hundred day simple moving average of $37.44.

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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