Matson (NYSE:MATX) Updates Q1 2021 Earnings Guidance

Matson (NYSE:MATX) issued an update on its first quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.830-1.930 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.290. The company issued revenue guidance of -.

NYSE MATX traded down $2.10 during trading hours on Tuesday, hitting $65.46. The company’s stock had a trading volume of 300,416 shares, compared to its average volume of 294,518. The company has a market capitalization of $2.84 billion, a PE ratio of 22.95 and a beta of 0.99. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. Matson has a 52 week low of $23.75 and a 52 week high of $79.05. The company’s 50-day simple moving average is $69.46 and its two-hundred day simple moving average is $63.66.

Matson (NYSE:MATX) last announced its quarterly earnings results on Tuesday, April 27th. The shipping company reported $1.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.36. Matson had a return on equity of 14.86% and a net margin of 5.54%. Research analysts anticipate that Matson will post 3.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 3rd. Shareholders of record on Thursday, May 6th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, May 5th. This represents a $0.92 annualized dividend and a yield of 1.41%. Matson’s dividend payout ratio (DPR) is 48.17%.

Separately, Stephens lowered Matson from an overweight rating to an equal weight rating and reduced their target price for the company from $80.00 to $70.00 in a report on Thursday, April 29th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $54.00.

In other Matson news, CEO Matthew J. Cox sold 5,000 shares of the firm’s stock in a transaction on Tuesday, April 20th. The shares were sold at an average price of $68.61, for a total value of $343,050.00. Following the completion of the transaction, the chief executive officer now directly owns 329,844 shares of the company’s stock, valued at approximately $22,630,596.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Ronald J. Forest sold 2,500 shares of the business’s stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $66.55, for a total value of $166,375.00. Following the transaction, the president now owns 78,076 shares of the company’s stock, valued at $5,195,957.80. The disclosure for this sale can be found here. Insiders sold a total of 12,050 shares of company stock worth $826,614 in the last ninety days. 1.95% of the stock is currently owned by insiders.

About Matson

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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