Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Matson (MATX) Stock Price
Media headlines about Matson (NYSE:MATX) have trended somewhat positive this week, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Matson earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned media headlines about the shipping company an impact score of 45.3213899748052 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
Several equities research analysts have issued reports on MATX shares. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, August 3rd. BidaskClub downgraded Matson from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Finally, Stifel Nicolaus raised Matson from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $27.50.
Shares of Matson (MATX) traded down 0.39% during midday trading on Wednesday, reaching $27.75. The company’s stock had a trading volume of 118,282 shares. Matson has a one year low of $21.63 and a one year high of $42.00. The firm has a 50-day moving average of $26.49 and a 200-day moving average of $29.28. The stock has a market cap of $1.20 billion, a PE ratio of 15.94 and a beta of 1.22.
Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.11. Matson had a return on equity of 16.10% and a net margin of 3.76%. The business had revenue of $512.50 million for the quarter, compared to analysts’ expectations of $495.19 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that Matson will post $1.68 EPS for the current year.
In other news, Director Thomas B. Fargo purchased 2,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were purchased at an average price of $23.61 per share, with a total value of $47,220.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Joel M. Wine purchased 6,100 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average cost of $24.07 per share, for a total transaction of $146,827.00. Following the transaction, the chief financial officer now directly owns 99,411 shares in the company, valued at $2,392,822.77. The disclosure for this purchase can be found here. In the last three months, insiders acquired 12,200 shares of company stock worth $292,734. Insiders own 2.60% of the company’s stock.
Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.
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