Matson (NYSE:MATX) Announces Quarterly Earnings Results, Beats Estimates By $0.91 EPS

Matson (NYSE:MATX) announced its earnings results on Tuesday. The shipping company reported $4.60 EPS for the quarter, beating analysts’ consensus estimates of $3.69 by $0.91, FiscalAI reports. Matson had a return on equity of 16.23% and a net margin of 12.70%.The company had revenue of $851.90 million during the quarter, compared to analysts’ expectations of $847.30 million.

Matson Stock Performance

Shares of MATX traded up $2.55 during midday trading on Tuesday, reaching $166.93. 264,822 shares of the stock were exchanged, compared to its average volume of 295,330. The business’s 50-day moving average price is $145.10 and its 200 day moving average price is $118.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. Matson has a twelve month low of $86.97 and a twelve month high of $169.20. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 12.70 and a beta of 1.35.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, February 5th. This represents a $1.44 annualized dividend and a dividend yield of 0.9%. Matson’s dividend payout ratio (DPR) is presently 10.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stephens increased their target price on shares of Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research note on Monday, December 29th. Finally, Wolfe Research reissued an “outperform” rating and set a $167.00 target price on shares of Matson in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Matson presently has an average rating of “Hold” and an average target price of $156.25.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MATX. Dimensional Fund Advisors LP lifted its stake in Matson by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock valued at $244,975,000 after buying an additional 21,463 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Matson by 27.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after purchasing an additional 128,994 shares during the period. Millennium Management LLC grew its position in Matson by 144.9% during the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after purchasing an additional 269,310 shares during the last quarter. Morgan Stanley increased its stake in Matson by 1.3% in the fourth quarter. Morgan Stanley now owns 430,292 shares of the shipping company’s stock valued at $53,163,000 after purchasing an additional 5,709 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Matson by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 269,691 shares of the shipping company’s stock worth $33,320,000 after buying an additional 12,654 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Company Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.