FY2018 EPS Estimates for Matson Inc (MATX) Raised by Seaport Global Securities

Matson Inc (NYSE:MATX) – Stock analysts at Seaport Global Securities upped their FY2018 earnings per share (EPS) estimates for shares of Matson in a research report issued to clients and investors on Tuesday, November 6th. Seaport Global Securities analyst K. Sterling now forecasts that the shipping company will post earnings per share of $2.52 for the year, up from their prior estimate of $2.34. Seaport Global Securities also issued estimates for Matson’s Q1 2019 earnings at $0.25 EPS and Q3 2019 earnings at $1.01 EPS.

Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, November 5th. The shipping company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.06. The business had revenue of $589.40 million for the quarter, compared to analyst estimates of $565.67 million. Matson had a net margin of 11.74% and a return on equity of 14.31%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS.

MATX has been the topic of several other reports. Wells Fargo & Co lowered shares of Matson to a “hold” rating and set a $35.00 price objective on the stock. in a report on Friday, September 28th. ValuEngine upgraded shares of Matson from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Zacks Investment Research lowered shares of Matson from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Stifel Nicolaus increased their price objective on shares of Matson from $38.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $41.17.

Shares of MATX stock opened at $40.84 on Thursday. The stock has a market cap of $1.75 billion, a PE ratio of 22.94, a P/E/G ratio of 3.41 and a beta of 1.39. Matson has a 1-year low of $26.55 and a 1-year high of $41.96. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.92.

A number of institutional investors and hedge funds have recently bought and sold shares of MATX. Meeder Asset Management Inc. increased its position in Matson by 167.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,260 shares of the shipping company’s stock worth $125,000 after purchasing an additional 2,042 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Matson during the 2nd quarter worth approximately $209,000. Fruth Investment Management acquired a new stake in Matson during the 2nd quarter worth approximately $222,000. UBS Group AG increased its position in Matson by 1,157.3% during the 1st quarter. UBS Group AG now owns 7,883 shares of the shipping company’s stock worth $225,000 after purchasing an additional 7,256 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new stake in Matson in the second quarter valued at approximately $234,000. 84.83% of the stock is owned by hedge funds and other institutional investors.

In related news, President Ronald J. Forest sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $35.00, for a total transaction of $35,000.00. Following the completion of the sale, the president now owns 60,884 shares of the company’s stock, valued at approximately $2,130,940. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark H. Fukunaga bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The shares were acquired at an average cost of $36.24 per share, with a total value of $144,960.00. Following the transaction, the director now owns 10,432 shares in the company, valued at approximately $378,055.68. The disclosure for this purchase can be found here. In the last three months, insiders have sold 3,000 shares of company stock valued at $111,810. Corporate insiders own 2.48% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 6th. Investors of record on Thursday, November 8th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, November 7th. Matson’s dividend payout ratio (DPR) is presently 47.19%.

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.

Read More: What is Compound Interest?

Earnings History and Estimates for Matson (NYSE:MATX)

Receive News & Ratings for Matson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matson and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply