Matson (MATX) Receiving Somewhat Favorable Press Coverage, Analysis Shows
News articles about Matson (NYSE:MATX) have been trending somewhat positive recently, Accern reports. The research firm identifies negative and positive news coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Matson earned a daily sentiment score of 0.10 on Accern’s scale. Accern also assigned media coverage about the shipping company an impact score of 45.9571348577984 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news headlines that may have effected Accern Sentiment’s rankings:
- Zacks: Analysts Expect Matson, Inc. (MATX) Will Announce Quarterly Sales of $532.77 Million (americanbankingnews.com)
- Zacks: Analysts Anticipate Matson, Inc. (MATX) to Announce $0.61 Earnings Per Share (americanbankingnews.com)
- Comparing Paragon Shipping (PRGN) & Matson (MATX) (americanbankingnews.com)
- Financial Contrast: Matson (MATX) versus Genco Shipping & Trading Limited Warrants Expiring 12/31/2021 (GNK) (americanbankingnews.com)
A number of research firms have commented on MATX. Stephens set a $40.00 price target on shares of Matson and gave the stock a “buy” rating in a research note on Saturday, June 10th. BidaskClub raised shares of Matson from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 9th. Stifel Nicolaus raised shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Thursday, August 3rd. Finally, Wells Fargo & Company lowered shares of Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price objective for the company. in a report on Friday, August 18th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $27.00.
Shares of Matson (NYSE MATX) traded up 0.54% during midday trading on Friday, hitting $25.99. 676,032 shares of the stock were exchanged. The firm’s 50-day moving average is $27.06 and its 200 day moving average is $29.92. The firm has a market cap of $1.12 billion, a PE ratio of 14.93 and a beta of 1.17. Matson has a 52-week low of $21.63 and a 52-week high of $42.00.
Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, July 31st. The shipping company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.44 by $0.11. The company had revenue of $512.50 million during the quarter, compared to analyst estimates of $495.19 million. Matson had a net margin of 3.76% and a return on equity of 16.10%. Matson’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, analysts forecast that Matson will post $1.68 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Thursday, August 3rd were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.08%. This is a positive change from Matson’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, August 1st. Matson’s payout ratio is presently 46.24%.
In other Matson news, Director Thomas B. Fargo bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was acquired at an average cost of $23.61 per share, for a total transaction of $47,220.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey N. Watanabe bought 4,100 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average price of $24.07 per share, with a total value of $98,687.00. The disclosure for this purchase can be found here. Insiders have acquired 12,200 shares of company stock valued at $292,734 over the last ninety days. 2.60% of the stock is owned by insiders.
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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