Stifel Nicolaus Forecasts Strong Price Appreciation for Matson (NYSE:MATX) Stock

Matson (NYSE:MATX) had its price objective boosted by Stifel Nicolaus from $150.00 to $160.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the shipping company’s stock.

Other equities research analysts have also recently issued reports about the company. Stephens reiterated an “overweight” rating and issued a $165.00 price target on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Matson Stock Up 2.3 %

Shares of Matson stock opened at $144.07 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $4.78 billion, a P/E ratio of 11.99 and a beta of 1.05. The firm’s 50 day moving average price is $139.60 and its 200-day moving average price is $141.11. Matson has a 52-week low of $100.50 and a 52-week high of $169.12.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.20 by $0.60. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $890.30 million for the quarter, compared to analyst estimates of $851.78 million. On average, sell-side analysts predict that Matson will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Thursday, February 6th will be paid a $0.34 dividend. The ex-dividend date is Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a yield of 0.94%. Matson’s dividend payout ratio (DPR) is 9.69%.

Institutional Trading of Matson

Several large investors have recently added to or reduced their stakes in MATX. Bessemer Group Inc. raised its stake in shares of Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company’s stock worth $29,000 after purchasing an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Matson during the 4th quarter worth approximately $30,000. Ameriflex Group Inc. purchased a new position in Matson during the 4th quarter worth approximately $36,000. IFP Advisors Inc acquired a new stake in Matson during the 4th quarter valued at approximately $40,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Matson in the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

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.