Matson (MATX) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Matson (MATX) closed at $72.88, marking a -1.02% move from the previous day. This change lagged the S&P 500's daily loss of 0.88%. At the same time, the Dow lost 0.82%, and the tech-heavy Nasdaq gained 0.08%.
Prior to today's trading, shares of the ocean transportation and logistics services company had lost 18.52% over the past month. This has lagged the Transportation sector's loss of 6.72% and the S&P 500's loss of 8.06% in that time.
Matson will be looking to display strength as it nears its next earnings release. On that day, Matson is projected to report earnings of $8.29 per share, which would represent year-over-year growth of 123.45%. Our most recent consensus estimate is calling for quarterly revenue of $1.21 billion, up 38.67% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $28.85 per share and revenue of $4.43 billion, which would represent changes of +34.37% and +12.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Matson. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.95% higher. Matson is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Matson has a Forward P/E ratio of 2.55 right now. For comparison, its industry has an average Forward P/E of 10.04, which means Matson is trading at a discount to the group.
The Transportation - Services industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 62, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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