Matson (NYSE:MATX) Issues Earnings Results, Beats Estimates By $0.60 EPS

Matson (NYSE:MATX) issued its earnings results on Tuesday. The shipping company reported $3.80 earnings per share for the quarter, topping the consensus estimate of $3.20 by $0.60, Zacks reports. Matson had a return on equity of 16.89% and a net margin of 12.37%.

Matson Price Performance

Shares of Matson stock traded down $2.04 during trading on Tuesday, hitting $141.27. The stock had a trading volume of 512,579 shares, compared to its average volume of 274,241. The business has a fifty day moving average of $139.46 and a two-hundred day moving average of $141.01. Matson has a fifty-two week low of $100.50 and a fifty-two week high of $169.12. The firm has a market cap of $4.69 billion, a P/E ratio of 11.75 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, February 6th. Matson’s payout ratio is currently 11.31%.

Analyst Ratings Changes

Several brokerages recently weighed in on MATX. Stephens reiterated an “overweight” rating and issued a $165.00 price objective on shares of Matson in a research report on Thursday, January 2nd. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

About Matson

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.