Matson (NYSE:MATX) Issues Earnings Results

Matson (NYSE:MATX) released its quarterly earnings results on Wednesday. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.91, Briefing.com reports. Matson had a return on equity of 17.18% and a net margin of 12.37%. The company had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $965.73 million. During the same quarter in the prior year, the business posted $3.40 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year.

Matson Price Performance

NYSE MATX traded down $0.24 on Friday, reaching $154.65. The company’s stock had a trading volume of 146,533 shares, compared to its average volume of 272,977. Matson has a twelve month low of $88.03 and a twelve month high of $155.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50 day moving average is $135.51 and its two-hundred day moving average is $126.95. The stock has a market cap of $5.19 billion, a PE ratio of 12.71 and a beta of 1.07.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, November 7th. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Analyst Ratings Changes

MATX has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Stephens raised their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd.

Insider Transactions at Matson

In related news, CEO Matthew J. Cox sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares in the company, valued at approximately $29,546,006.49. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Matthew J. Cox sold 7,500 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the sale, the chief executive officer now directly owns 215,397 shares of the company’s stock, valued at $29,546,006.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jason Lee Taylor sold 1,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the transaction, the senior vice president now owns 9,392 shares of the company’s stock, valued at $1,274,776.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,712 shares of company stock valued at $4,149,098 in the last quarter. Insiders own 2.32% of the company’s stock.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.