Matson (NYSE:MATX) Posts Quarterly Earnings Results

Matson (NYSE:MATX) posted its quarterly earnings results on Wednesday. The shipping company reported $5.89 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91, Briefing.com reports. Matson had a return on equity of 13.87% and a net margin of 10.41%. The company had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same quarter in the prior year, the business posted $3.40 EPS. The firm’s quarterly revenue was up 16.3% on a year-over-year basis.

Matson Price Performance

MATX traded up $20.37 on Thursday, hitting $153.96. 334,626 shares of the stock were exchanged, compared to its average volume of 271,810. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 18.10 and a beta of 1.07. 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 has a 12 month low of $82.68 and a 12 month high of $155.75. The business has a 50-day moving average of $135.07 and a two-hundred day moving average of $126.76.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is currently 16.04%.

Analysts Set New Price Targets

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

Insider Activity at Matson

In other Matson news, CEO Matthew J. Cox sold 7,500 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the transaction, the chief executive officer now owns 215,397 shares of the company’s stock, valued at approximately $29,546,006.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Matthew J. Cox sold 7,500 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the transaction, the chief executive officer now directly owns 215,397 shares in the company, valued at approximately $29,546,006.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew J. Cox sold 6,499 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $143.82, for a total value of $934,686.18. Following the sale, the chief executive officer now directly owns 208,898 shares in the company, valued at approximately $30,043,710.36. This trade represents 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 valued at $4,149,098 over the last three months. 2.32% of the stock is owned by insiders.

Matson Company Profile

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.