Matson (NYSE:MATX) announced its quarterly earnings results on Thursday. The shipping company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.01, Briefing.com reports. Matson had a net margin of 4.15% and a return on equity of 12.30%. The firm had revenue of $572.10 million for the quarter, compared to analyst estimates of $574.44 million. During the same quarter in the previous year, the firm posted $0.97 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis.
MATX traded down $1.30 during trading on Friday, reaching $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 current ratio of 0.68 and a quick ratio of 0.68. Matson has a 12 month low of $30.60 and a 12 month high of $42.15. The business’s fifty day moving average price is $37.88 and its 200 day moving average price is $37.79. The company has a market cap of $1.63 billion, a P/E ratio of 15.23, a PEG ratio of 3.99 and a beta of 1.59.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, November 6th. Matson’s payout ratio is currently 34.78%.
In other news, SVP Rusty K. Rolfe sold 3,047 shares of Matson stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $40.67, for a total value of $123,921.49. Following the sale, the senior vice president now directly owns 56,304 shares in the company, valued at $2,289,883.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vic S. Angoco, Jr. sold 16,100 shares of Matson stock in a transaction that occurred on 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 in the company, valued at $1,543,559.64. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Matson from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th. ValuEngine raised shares of Matson from a “hold” rating to a “buy” rating in a research note on Wednesday.
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.
Further Reading: What are different types of coverage ratios?
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.