Matson (MATX) Scheduled to Post Quarterly Earnings on Thursday

Matson (NYSE:MATX) will be issuing its quarterly earnings data after the market closes on Thursday, August 1st. Analysts expect the company to announce earnings of $3.05 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 earnings per share. On average, analysts expect Matson to post $10 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Matson Stock Up 2.0 %

Shares of MATX stock traded up $2.65 during trading hours on Tuesday, reaching $134.74. 15,873 shares of the company’s stock were exchanged, compared to its average volume of 266,126. The stock’s 50 day moving average is $125.40 and its 200-day moving average is $116.67. The company has a market cap of $4.71 billion, a price-to-earnings ratio of 15.56 and a beta of 1.09. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. Matson has a fifty-two week low of $82.68 and a fifty-two week high of $135.17.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, August 1st. This is an increase from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.01%. Matson’s dividend payout ratio is presently 15.09%.

Insider Transactions at Matson

In other news, CFO Joel M. Wine sold 8,000 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $128.89, for a total transaction of $1,031,120.00. Following the sale, the chief financial officer now directly owns 106,974 shares of the company’s stock, valued at approximately $13,787,878.86. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Joel M. Wine sold 8,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $128.89, for a total transaction of $1,031,120.00. Following the completion of the transaction, the chief financial officer now owns 106,974 shares in the company, valued at approximately $13,787,878.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Joel M. Wine sold 8,941 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $128.80, for a total transaction of $1,151,600.80. Following the transaction, the chief financial officer now owns 151,329 shares of the company’s stock, valued at approximately $19,491,175.20. The disclosure for this sale can be found here. Insiders have sold a total of 66,624 shares of company stock valued at $8,447,299 in the last ninety days. 2.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MATX shares. Stephens reissued an “overweight” rating and set a $135.00 price objective on shares of Matson in a report on Friday, May 24th. StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus upped their price target on shares of Matson from $109.00 to $111.00 and gave the company a “hold” rating in a report on Wednesday, May 1st.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.