Matson (NYSE:MATX) Releases Q2 2021 Earnings Guidance

Matson (NYSE:MATX) updated its second quarter 2021 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.580-$3.730 for the period, compared to the Thomson Reuters consensus estimate of $2.230. The company issued revenue guidance of -.

Separately, Stephens reissued an equal weight rating and issued a $70.00 target price on shares of Matson in a research report on Wednesday, May 5th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Matson presently has an average rating of Buy and a consensus price target of $54.00.

Shares of NYSE MATX traded down $1.61 during trading hours on Thursday, hitting $64.54. 2,934 shares of the stock were exchanged, compared to its average volume of 373,848. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.61. Matson has a one year low of $34.78 and a one year high of $79.05. The business’s 50 day moving average is $63.90. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 10.43 and a beta of 0.97.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, April 27th. The shipping company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.36. Matson had a net margin of 10.71% and a return on equity of 29.91%. The firm had revenue of $711.80 million during the quarter, compared to the consensus estimate of $686.05 million. On average, analysts anticipate that Matson will post 9.57 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 2nd. Stockholders of record on Thursday, August 5th will be paid a $0.30 dividend. This is a boost from Matson’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, August 4th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.86%. Matson’s dividend payout ratio is currently 20.72%.

In related news, CEO Matthew J. Cox sold 5,000 shares of the stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $65.74, for a total transaction of $328,700.00. Following the completion of the sale, the chief executive officer now owns 324,018 shares in the company, valued at approximately $21,300,943.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ronald J. Forest sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $66.55, for a total transaction of $166,375.00. Following the completion of the sale, the president now owns 78,076 shares of the company’s stock, valued at approximately $5,195,957.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,732 shares of company stock valued at $2,426,657. Corporate insiders own 2.00% of the company’s stock.

Matson Company Profile

Matson, Inc, together with its subsidiaries, 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.

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