Matson (NYSE:MATX) issued its earnings results on Thursday. The shipping company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.01, Briefing.com reports. Matson had a return on equity of 12.30% and a net margin of 4.15%. The firm had revenue of $572.10 million for the quarter, compared to analysts’ expectations of $574.44 million. During the same period in the previous year, the firm posted $0.97 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year.
MATX traded down $1.30 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 market cap of $1.63 billion, a PE ratio of 15.23, a PEG ratio of 3.99 and a beta of 1.59. Matson has a 12-month low of $30.60 and a 12-month high of $42.15. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.28. The business’s fifty day simple moving average is $37.88 and its 200 day simple moving average is $37.79.
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 given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.88 annualized dividend and a yield of 2.28%. Matson’s dividend payout ratio is currently 34.78%.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Matson from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. ValuEngine upgraded Matson from a “hold” rating to a “buy” rating in a research report on Wednesday.
In related news, insider Vic S. Angoco, Jr. sold 16,100 shares of Matson stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.14, for a total value of $565,754.00. Following the completion of the transaction, the insider now owns 43,926 shares in the company, valued at $1,543,559.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Rusty K. Rolfe sold 3,047 shares of Matson stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $40.67, for a total value of $123,921.49. Following the completion of the transaction, the senior vice president now owns 56,304 shares of the company’s stock, valued at approximately $2,289,883.68. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
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.
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