Matson (NYSE:MATX) announced its earnings results on Thursday. The shipping company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01, Briefing.com reports. The business had revenue of $572.10 million during the quarter, compared to analysts’ expectations of $574.44 million. Matson had a net margin of 4.15% and a return on equity of 12.30%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS.
MATX traded down $1.30 during midday trading on Friday, hitting $38.54. The company had a trading volume of 292,735 shares, compared to its average volume of 154,958. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $1.63 billion, a PE ratio of 15.23, a P/E/G ratio of 3.99 and a beta of 1.59. Matson has a twelve month low of $30.60 and a twelve month high of $42.15. The firm’s 50-day simple moving average is $37.88 and its 200-day simple moving average is $37.79.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, November 6th. Matson’s dividend payout ratio (DPR) is currently 34.78%.
A number of equities research analysts recently issued reports on MATX shares. ValuEngine upgraded shares of Matson from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Matson from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th.
In other Matson news, SVP Rusty K. Rolfe sold 3,047 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $40.67, for a total value of $123,921.49. Following the completion of the sale, the senior vice president now owns 56,304 shares in the company, valued at approximately $2,289,883.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vic S. Angoco, Jr. sold 16,100 shares of the firm’s stock in a transaction dated 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. Company insiders own 2.00% of the company’s stock.
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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