Wall Street brokerages expect Matson, Inc. (NYSE:MATX) to report sales of $532.77 million for the current quarter, Zacks reports. Four analysts have made estimates for Matson’s earnings, with the highest sales estimate coming in at $549.96 million and the lowest estimate coming in at $521.50 million. Matson reported sales of $500.40 million in the same quarter last year, which indicates a positive year over year growth rate of 6.5%. The company is scheduled to announce its next earnings results on Monday, November 6th.

According to Zacks, analysts expect that Matson will report full-year sales of $532.77 million for the current fiscal year, with estimates ranging from $1.99 billion to $2.04 billion. For the next fiscal year, analysts expect that the company will report sales of $2.07 billion per share, with estimates ranging from $1.97 billion to $2.16 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Matson.

Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The company had revenue of $512.50 million during the quarter, compared to analysts’ expectations of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 earnings per share.

Several research firms have recently commented on MATX. Zacks Investment Research upgraded Matson from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Thursday, August 3rd. Stifel Nicolaus upgraded Matson from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Friday, August 18th. Stephens set a $40.00 price objective on Matson and gave the stock a “buy” rating in a research note on Saturday, June 10th. BidaskClub lowered Matson from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Wells Fargo & Company lowered Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price objective for the company. in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $27.00.

Shares of Matson (NYSE MATX) traded up 1.35% during trading on Friday, hitting $26.35. The stock had a trading volume of 259,163 shares. The stock’s 50-day moving average price is $26.93 and its 200 day moving average price is $29.73. The firm has a market capitalization of $1.14 billion, a P/E ratio of 15.13 and a beta of 1.17. Matson has a 1-year low of $21.63 and a 1-year high of $42.00.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.04%. 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 dividend payout ratio is 46.24%.

In other Matson news, CFO Joel M. Wine purchased 6,100 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was acquired at an average price of $24.07 per share, for a total transaction of $146,827.00. Following the purchase, the chief financial officer now owns 99,411 shares of the company’s stock, valued at approximately $2,392,822.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Blake Baird sold 2,578 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $29.98, for a total value of $77,288.44. Following the completion of the sale, the director now owns 15,583 shares of the company’s stock, valued at approximately $467,178.34. The disclosure for this sale can be found here. Insiders bought a total of 12,200 shares of company stock valued at $292,734 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its stake in Matson by 83,732.7% in the 1st quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock worth $189,865,000 after buying an additional 5,970,976 shares in the last quarter. Vanguard Group Inc. increased its stake in Matson by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,923,215 shares of the shipping company’s stock worth $117,853,000 after buying an additional 79,971 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Matson by 9.8% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,543,302 shares of the shipping company’s stock worth $46,361,000 after buying an additional 138,348 shares in the last quarter. State Street Corp increased its stake in Matson by 1.5% in the 2nd quarter. State Street Corp now owns 1,079,551 shares of the shipping company’s stock worth $32,429,000 after buying an additional 15,869 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Matson by 4.5% in the 1st quarter. Macquarie Group Ltd. now owns 865,715 shares of the shipping company’s stock worth $27,495,000 after buying an additional 37,400 shares in the last quarter. Institutional investors and hedge funds own 84.13% of the company’s stock.

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About Matson

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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