Matson (NYSE:MATX) Announces Earnings Results

Matson (NYSE:MATX) issued its quarterly earnings results on Wednesday. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.91, Briefing.com reports. Matson had a return on equity of 17.18% and a net margin of 12.37%. The company had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same period last year, the business posted $3.40 earnings per share. The firm’s revenue was up 16.3% compared to the same quarter last year.

Matson Stock Performance

Shares of MATX traded down $1.38 on Friday, reaching $153.51. 467,493 shares of the stock traded hands, compared to its average volume of 274,491. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 12.77 and a beta of 1.07. Matson has a 12 month low of $88.03 and a 12 month high of $155.96. The stock’s 50-day moving average price is $135.87 and its 200-day moving average price is $127.26. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s payout ratio is presently 11.31%.

Insiders Place Their Bets

In other Matson news, SVP Richard S. Kinney sold 1,615 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $133.62, for a total transaction of $215,796.30. Following the completion of the transaction, the senior vice president now owns 7,973 shares in the company, valued at $1,065,352.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Matson news, SVP Laura L. Rascon sold 744 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $129.13, for a total value of $96,072.72. Following the transaction, the senior vice president now directly owns 12,369 shares in the company, valued at $1,597,208.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard S. Kinney sold 1,615 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total transaction of $215,796.30. Following the sale, the senior vice president now directly owns 7,973 shares of the company’s stock, valued at approximately $1,065,352.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,712 shares of company stock worth $4,149,098 over the last 90 days. Corporate insiders own 2.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MATX. Stephens lifted their price target on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

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.