Brokerages Anticipate Matson, Inc. (MATX) Will Post Quarterly Sales of $503.16 Million

Wall Street analysts predict that Matson, Inc. (NYSE:MATX) will announce sales of $503.16 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Matson’s earnings, with the lowest sales estimate coming in at $480.70 million and the highest estimate coming in at $517.70 million. Matson posted sales of $519.30 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.1%. The firm is scheduled to report its next earnings results after the market closes on Tuesday, February 20th.

On average, analysts expect that Matson will report full year sales of $503.16 million for the current fiscal year, with estimates ranging from $2.01 billion to $2.05 billion. For the next financial year, analysts expect that the firm will report sales of $2.04 billion per share, with estimates ranging from $1.83 billion to $2.15 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Matson.

Matson (NYSE:MATX) last announced its earnings results on Thursday, November 2nd. The shipping company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.20. Matson had a net margin of 4.12% and a return on equity of 17.49%. The firm had revenue of $543.90 million during the quarter, compared to the consensus estimate of $531.61 million. During the same quarter in the previous year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis.

Several analysts have commented on MATX shares. Zacks Investment Research cut Matson from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Stifel Nicolaus restated a “buy” rating and issued a $38.00 price target (up previously from $32.00) on shares of Matson in a report on Monday, January 29th. BidaskClub cut Matson from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Wells Fargo & Co upgraded Matson from an “underperform” rating to a “market perform” rating in a report on Monday, January 29th. Finally, Seaport Global Securities upgraded Matson from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $32.60.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. grew its holdings in shares of Matson by 126.1% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 51,100 shares of the shipping company’s stock worth $1,439,000 after purchasing an additional 28,500 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in shares of Matson during the 3rd quarter worth about $713,000. Cubist Systematic Strategies LLC grew its holdings in shares of Matson by 257.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 16,914 shares of the shipping company’s stock worth $477,000 after purchasing an additional 12,176 shares during the period. Prudential Financial Inc. grew its holdings in shares of Matson by 7.3% during the 3rd quarter. Prudential Financial Inc. now owns 272,205 shares of the shipping company’s stock worth $7,670,000 after purchasing an additional 18,620 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Matson by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 3,923,215 shares of the shipping company’s stock worth $117,853,000 after purchasing an additional 79,971 shares during the period. Institutional investors own 84.85% of the company’s stock.

Shares of Matson (MATX) opened at $34.31 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $1,510.00, a PE ratio of 17.69, a price-to-earnings-growth ratio of 3.28 and a beta of 1.31. Matson has a fifty-two week low of $21.63 and a fifty-two week high of $40.32.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 8th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.33%. The ex-dividend date is Wednesday, February 7th. Matson’s dividend payout ratio (DPR) is 41.24%.

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Matson Company Profile

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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