Brokerages expect Matson Inc (NYSE:MATX) to announce $540.43 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Matson’s earnings, with estimates ranging from $496.20 million to $574.50 million. Matson reported sales of $516.10 million during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The firm is expected to issue its next quarterly earnings report on Tuesday, February 19th.
According to Zacks, analysts expect that Matson will report full year sales of $2.20 billion for the current financial year, with estimates ranging from $2.15 billion to $2.23 billion. For the next financial year, analysts forecast that the business will report sales of $2.22 billion, with estimates ranging from $2.16 billion to $2.27 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Matson.
Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, November 5th. The shipping company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. Matson had a return on equity of 14.31% and a net margin of 11.74%. The company had revenue of $589.40 million during the quarter, compared to analysts’ expectations of $565.67 million. During the same period in the prior year, the business earned $0.79 earnings per share. Matson’s revenue for the quarter was up 8.4% compared to the same quarter last year.
In related news, SVP Peter T. Heilmann sold 2,750 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $39.74, for a total value of $109,285.00. Following the completion of the transaction, the senior vice president now directly owns 41,435 shares in the company, valued at $1,646,626.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Ronald J. Forest sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 2nd. The shares were sold at an average price of $32.28, for a total value of $32,280.00. Following the completion of the transaction, the president now owns 58,884 shares of the company’s stock, valued at $1,900,775.52. The disclosure for this sale can be found here. Insiders sold 5,750 shares of company stock valued at $216,565 over the last 90 days. 2.48% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley raised its stake in Matson by 0.7% during the third quarter. Morgan Stanley now owns 216,314 shares of the shipping company’s stock worth $8,576,000 after acquiring an additional 1,558 shares in the last quarter. Rhumbline Advisers raised its stake in Matson by 2.3% during the second quarter. Rhumbline Advisers now owns 102,689 shares of the shipping company’s stock worth $3,941,000 after acquiring an additional 2,276 shares in the last quarter. Martingale Asset Management L P raised its stake in Matson by 26.6% during the third quarter. Martingale Asset Management L P now owns 17,130 shares of the shipping company’s stock worth $680,000 after acquiring an additional 3,601 shares in the last quarter. CKW Financial Group raised its stake in Matson by 23.0% during the third quarter. CKW Financial Group now owns 21,422 shares of the shipping company’s stock worth $852,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Matson by 6.4% during the second quarter. Legal & General Group Plc now owns 83,972 shares of the shipping company’s stock worth $3,216,000 after acquiring an additional 5,063 shares in the last quarter. Institutional investors and hedge funds own 84.28% of the company’s stock.
Shares of MATX traded down $0.26 during mid-day trading on Friday, hitting $33.30. The company’s stock had a trading volume of 91,951 shares, compared to its average volume of 130,656. Matson has a one year low of $27.73 and a one year high of $41.96. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 18.71 and a beta of 1.55.
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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