Zacks: Matson, Inc. (MATX) Given $45.00 Consensus Price Target by Brokerages
Matson, Inc. (NYSE:MATX) has been given an average broker rating score of 0.00 () from the four analysts that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company.
Brokers have set a 12 month consensus price target of $45.00 for the company and are anticipating that the company will post $0.15 EPS for the current quarter, according to Zacks. Zacks has also given Matson an industry rank of 183 out of 265 based on the ratings given to related companies.
A number of research analysts have issued reports on MATX shares. Seaport Global Securities reiterated a “neutral” rating on shares of Matson in a research report on Wednesday, December 21st. Zacks Investment Research lowered Matson from a “hold” rating to a “sell” rating in a research report on Friday, February 24th.
Matson (NYSE:MATX) opened at 32.06 on Thursday. Matson has a 12 month low of $28.79 and a 12 month high of $43.00. The stock’s 50 day moving average is $34.41 and its 200 day moving average is $37.33. The firm has a market cap of $1.38 billion, a PE ratio of 17.33 and a beta of 1.02.
Matson (NYSE:MATX) last announced its quarterly earnings results on Tuesday, February 21st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.03. Matson had a return on equity of 20.49% and a net margin of 4.57%. The business had revenue of $519.30 million for the quarter, compared to analyst estimates of $493.69 million. During the same quarter last year, the firm posted $0.60 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Matson will post $1.61 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 2nd. Stockholders of record on Thursday, February 9th were issued a $0.19 dividend. The ex-dividend date was Tuesday, February 7th. This represents a $0.76 annualized dividend and a dividend yield of 2.37%. Matson’s dividend payout ratio (DPR) is 38.00%.
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In other news, Director Michael J. Chun sold 4,300 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $34.34, for a total transaction of $147,662.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.36% of the company’s stock.
Several large investors have recently made changes to their positions in MATX. Macquarie Group Ltd. increased its stake in shares of Matson by 3.2% in the second quarter. Macquarie Group Ltd. now owns 841,445 shares of the company’s stock valued at $27,170,000 after buying an additional 26,168 shares in the last quarter. Algert Global LLC increased its stake in shares of Matson by 71.8% in the third quarter. Algert Global LLC now owns 12,107 shares of the company’s stock valued at $483,000 after buying an additional 5,060 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Matson by 2.1% in the third quarter. Bank of Montreal Can now owns 3,985 shares of the company’s stock valued at $159,000 after buying an additional 82 shares in the last quarter. Rice Hall James & Associates LLC increased its stake in shares of Matson by 23.7% in the third quarter. Rice Hall James & Associates LLC now owns 553,977 shares of the company’s stock valued at $22,093,000 after buying an additional 106,206 shares in the last quarter. Finally, Hermes Investment Management Ltd. increased its stake in shares of Matson by 12.3% in the third quarter. Hermes Investment Management Ltd. now owns 592,064 shares of the company’s stock valued at $23,612,000 after buying an additional 64,956 shares in the last quarter. 83.14% of the stock is owned by institutional investors and hedge funds.
Matson, Inc is a transportation company in the Marine industry.
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