Wall Street analysts expect Matson Inc (NYSE:MATX) to announce sales of $540.43 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Matson’s earnings. The lowest sales estimate is $496.20 million and the highest is $574.50 million. Matson posted sales of $516.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.7%. The business is scheduled to issue its next earnings results on Tuesday, February 19th.
On average, analysts expect that Matson will report full-year sales of $2.20 billion for the current year, with estimates ranging from $2.15 billion to $2.23 billion. For the next year, analysts anticipate that the company will post sales of $2.22 billion, with estimates ranging from $2.16 billion to $2.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Matson.
Matson (NYSE:MATX) last released its quarterly earnings data on Monday, November 5th. The shipping company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The company had revenue of $589.40 million during the quarter, compared to analysts’ expectations of $565.67 million. Matson had a net margin of 11.74% and a return on equity of 14.31%. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share.
Shares of MATX stock traded down $0.26 on Friday, reaching $33.30. 91,951 shares of the company were exchanged, compared to its average volume of 130,656. The stock has a market capitalization of $1.44 billion, a P/E ratio of 18.71 and a beta of 1.55. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.16. Matson has a 1 year low of $27.73 and a 1 year high of $41.96.
In related news, President Ronald J. Forest sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The shares were sold at an average price of $32.28, for a total transaction of $32,280.00. Following the transaction, the president now directly owns 58,884 shares in the company, valued at $1,900,775.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Peter T. Heilmann sold 2,750 shares of the business’s stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $39.74, for a total transaction of $109,285.00. Following the transaction, the senior vice president now owns 41,435 shares in the company, valued at $1,646,626.90. The disclosure for this sale can be found here. Insiders have sold 5,750 shares of company stock valued at $216,565 in the last three months. Corporate insiders own 2.48% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of MATX. BlackRock Inc. boosted its position in Matson by 7.1% during the second quarter. BlackRock Inc. now owns 6,228,684 shares of the shipping company’s stock worth $239,058,000 after acquiring an additional 414,250 shares during the last quarter. Bridgeway Capital Management Inc. boosted its position in Matson by 333.4% during the third quarter. Bridgeway Capital Management Inc. now owns 245,690 shares of the shipping company’s stock worth $9,739,000 after acquiring an additional 189,000 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Matson during the third quarter worth about $6,231,000. RK Capital Management LLC acquired a new position in Matson during the third quarter worth about $5,010,000. Finally, Vanguard Group Inc. boosted its position in Matson by 1.5% during the third quarter. Vanguard Group Inc. now owns 4,204,197 shares of the shipping company’s stock worth $166,654,000 after acquiring an additional 63,276 shares during the last quarter. Hedge funds and other institutional investors own 84.28% 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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