Matson (NYSE:MATX) Updates Q4 2020 After-Hours Earnings Guidance

Matson (NYSE:MATX) updated its fourth quarter 2020
After-Hours earnings guidance on Monday. The company provided earnings per share guidance of 1.74-1.87 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.11. Matson also updated its Q4 guidance to $1.74-1.87 EPS.

Several brokerages have recently commented on MATX. Stephens upgraded shares of Matson from an equal weight rating to an overweight rating and raised their price objective for the company from $45.00 to $70.00 in a research report on Tuesday, November 3rd. Sidoti raised their price objective on shares of Matson from $50.00 to $60.00 and gave the company a buy rating in a research report on Friday, October 9th. BidaskClub upgraded shares of Matson from a buy rating to a strong-buy rating in a research report on Thursday, January 7th. Finally, ValuEngine downgraded shares of Matson from a sell rating to a strong sell rating in a report on Tuesday, January 5th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Matson currently has an average rating of Buy and an average target price of $54.00.

Matson stock opened at $64.77 on Thursday. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 22.81 and a beta of 1.04. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.64 and a quick ratio of 0.64. Matson has a 1 year low of $23.75 and a 1 year high of $70.04. The firm has a 50-day moving average of $58.59 and a two-hundred day moving average of $46.86.

Matson (NYSE:MATX) last released its quarterly earnings data on Monday, November 2nd. The shipping company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.05. Matson had a net margin of 5.54% and a return on equity of 14.86%. The company had revenue of $645.20 million during the quarter, compared to analysts’ expectations of $668.39 million. During the same period in the previous year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts expect that Matson will post 3.72 earnings per share for the current year.

In other news, SVP Rusty K. Rolfe sold 5,574 shares of the business’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $55.42, for a total value of $308,911.08. Following the completion of the sale, the senior vice president now owns 65,215 shares in the company, valued at approximately $3,614,215.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Vic S. Angoco, Jr. sold 14,800 shares of the business’s stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $59.44, for a total transaction of $879,712.00. Following the completion of the sale, the senior vice president now owns 35,773 shares of the company’s stock, valued at approximately $2,126,347.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,791 shares of company stock valued at $3,248,152. Company insiders own 1.95% 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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