Matson Inc (NYSE:MATX) Receives $38.33 Consensus Target Price from Analysts

Matson Inc (NYSE:MATX) has earned an average rating of “Hold” from the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $38.33.

A number of research firms recently commented on MATX. Zacks Investment Research cut Matson from a “hold” rating to a “sell” rating in a report on Friday, May 8th. TheStreet cut Matson from a “b” rating to a “c+” rating in a research note on Tuesday, February 25th. Stephens cut Matson from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $42.00 to $30.00 in a research note on Monday, April 6th. Finally, Stifel Nicolaus upgraded Matson from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Thursday, February 27th.

Several institutional investors have recently made changes to their positions in MATX. Tensile Capital Management LLC purchased a new stake in shares of Matson during the first quarter worth approximately $4,593,000. Advisor Group Holdings Inc. purchased a new stake in shares of Matson during the first quarter worth approximately $111,000. Capital Research Global Investors increased its stake in shares of Matson by 37.3% during the first quarter. Capital Research Global Investors now owns 2,451,000 shares of the shipping company’s stock worth $75,050,000 after buying an additional 666,000 shares during the period. ArrowMark Colorado Holdings LLC increased its stake in shares of Matson by 10.2% during the first quarter. ArrowMark Colorado Holdings LLC now owns 3,293,953 shares of the shipping company’s stock worth $100,861,000 after buying an additional 304,346 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Matson by 5.3% during the first quarter. Thrivent Financial for Lutherans now owns 35,926 shares of the shipping company’s stock worth $1,100,000 after buying an additional 1,793 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

MATX traded down $0.31 during trading hours on Tuesday, reaching $28.57. The company’s stock had a trading volume of 250,415 shares, compared to its average volume of 237,462. Matson has a fifty-two week low of $23.75 and a fifty-two week high of $42.15. The stock has a market cap of $1.23 billion, a PE ratio of 16.61 and a beta of 1.13. The business’s 50-day moving average is $27.82 and its 200-day moving average is $34.15. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.66 and a quick ratio of 0.66.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, May 5th. The shipping company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Matson had a return on equity of 9.34% and a net margin of 3.39%. The firm had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $513.81 million. During the same period in the prior year, the firm posted $0.29 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. Analysts expect that Matson will post 1.02 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 7th will be paid a dividend of $0.22 per share. The ex-dividend date is Wednesday, May 6th. This represents a $0.88 annualized dividend and a yield of 3.08%. Matson’s payout ratio is 46.07%.

About Matson

Matson, Inc 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. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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