Matson (NYSE:MATX) Updates Q3 Earnings Guidance

Matson (NYSE:MATX) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $6.39-6.58 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.40. Matson also updated its Q3 2021 guidance to $6.390-$6.580 EPS.

Shares of NYSE:MATX opened at $86.71 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.50. The company’s 50 day moving average is $79.86 and its two-hundred day moving average is $70.50. The company has a market cap of $3.77 billion, a PE ratio of 9.33 and a beta of 0.98. Matson has a 52 week low of $49.21 and a 52 week high of $91.79.

Matson (NYSE:MATX) last issued its quarterly earnings data on Thursday, July 29th. The shipping company reported $3.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.96 by $0.75. Matson had a net margin of 13.85% and a return on equity of 40.07%. The company had revenue of $874.90 million for the quarter, compared to the consensus estimate of $856.54 million. As a group, equities research analysts expect that Matson will post 13.43 EPS for the current year.

Separately, Stifel Nicolaus raised their price objective on shares of Matson from $80.00 to $92.00 and gave the company a buy rating in a research note on Tuesday.

In other Matson news, CEO Matthew J. Cox sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, October 6th. The shares were sold at an average price of $82.58, for a total transaction of $412,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jenai S. Wall bought 1,000 shares of the company’s stock in a transaction on Thursday, August 12th. The shares were acquired at an average price of $75.17 per share, with a total value of $75,170.00. Following the completion of the acquisition, the director now directly owns 9,797 shares in the company, valued at approximately $736,440.49. The disclosure for this purchase can be found here. Insiders have sold a total of 46,613 shares of company stock valued at $3,414,613 over the last 90 days. 2.00% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Matson stock. Morgan Stanley lifted its position in shares of Matson, Inc. (NYSE:MATX) by 41.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,758 shares of the shipping company’s stock after purchasing an additional 49,218 shares during the period. Morgan Stanley owned about 0.39% of Matson worth $10,802,000 as of its most recent SEC filing. 85.32% of the stock is owned by institutional investors.

Matson Company Profile

Matson, Inc is a holding company, which engages in the provision of logistics and transportation services. It operates through the Ocean Transportation and Logistics segments. The Ocean Transportation segment offers ocean freight transportation, container stevedoring, refrigerated cargo services, inland transportation, and other terminal services.

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