Matson, Inc. (NYSE:MATX) Receives $131.67 Average Target Price from Analysts

Key Points

• Analysts have assigned Matson, Inc. a consensus recommendation of "Hold", with four hold ratings and one buy rating; the average target price is $131.67.
• Matson reported earnings of $2.92 EPS, surpassing estimates, and a revenue of $830.50 million, despite a 2% year-over-year decline.
• The company announced an increase in its quarterly dividend from $0.34 to $0.36 per share, representing a yield of 1.4%.

Shares of Matson, Inc. (NYSE:MATX - Get Free Report) have been assigned a consensus rating of "Hold" from the five research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $131.6667.

Several analysts recently commented on the company. Zacks Research raised Matson from a "strong sell" rating to a "hold" rating in a report on Tuesday. Jefferies Financial Group reaffirmed a "hold" rating and set a $115.00 target price on shares of Matson in a report on Friday, August 1st.

Matson Stock Performance

Matson stock traded down $3.86 during midday trading on Thursday, hitting $103.66. 1,182,150 shares of the company were exchanged, compared to its average volume of 281,855. The firm has a market capitalization of $3.30 billion, a PE ratio of 7.01 and a beta of 1.21. Matson has a fifty-two week low of $91.75 and a fifty-two week high of $169.12. The business has a fifty day simple moving average of $106.40 and a two-hundred day simple moving average of $111.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 0.78.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, topping the consensus estimate of $2.18 by $0.74. The firm had revenue of $830.50 million for the quarter, compared to analyst estimates of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%.Matson's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $3.31 earnings per share. On average, sell-side analysts forecast that Matson will post 13.27 earnings per share for the current year.

Matson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This is an increase from Matson's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.4%. Matson's dividend payout ratio is 9.74%.

Insider Buying and Selling

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the sale, the senior vice president directly owned 13,441 shares of the company's stock, valued at approximately $1,477,703.54. This trade represents a 7.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.05% of the company's stock.

Institutional Trading of Matson

Institutional investors have recently bought and sold shares of the business. Hantz Financial Services Inc. grew its holdings in Matson by 67.1% in the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company's stock valued at $28,000 after purchasing an additional 102 shares during the period. Headlands Technologies LLC acquired a new stake in Matson in the second quarter valued at approximately $28,000. Brooklyn Investment Group acquired a new stake in Matson in the first quarter valued at approximately $34,000. Ameriflex Group Inc. purchased a new position in shares of Matson in the fourth quarter valued at approximately $36,000. Finally, State of Wyoming lifted its position in shares of Matson by 495.3% in the first quarter. State of Wyoming now owns 381 shares of the shipping company's stock valued at $49,000 after acquiring an additional 317 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Company Profile

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.