Matson, Inc. (NYSE:MATX) Declares Dividend Increase – $0.38 Per Share

Matson, Inc. (NYSE:MATX) declared a quarterly dividend on Thursday, June 25th. Investors of record on Thursday, August 6th will be paid a dividend of 0.38 per share by the shipping company on Thursday, September 3rd. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, August 6th. This is a 5.6% increase from Matson’s previous quarterly dividend of $0.36.

Matson has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 13 years. Matson has a dividend payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Matson to earn $14.87 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 9.7%.

Matson Stock Up 0.4%

Shares of NYSE:MATX opened at $196.43 on Friday. Matson has a 1 year low of $86.97 and a 1 year high of $203.08. The business has a 50 day simple moving average of $184.48 and a two-hundred day simple moving average of $162.30. The firm has a market capitalization of $5.94 billion, a PE ratio of 14.43 and a beta of 1.29. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Matson (NYSE:MATX) last released its earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million for the quarter, compared to analysts’ expectations of $777.55 million. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The company’s quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts predict that Matson will post 13.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wall Street Zen downgraded Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research note on Monday, April 27th. They set an “overweight” rating and a $230.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. Finally, Zacks Research upgraded shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Matson has an average rating of “Moderate Buy” and a consensus price target of $181.25.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.