Matson (MATX) Gains As Market Dips: What You Should Know
In the latest trading session, Matson (MATX) closed at $88.62, marking a +1.06% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.42%. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, lost 0.47%.
Prior to today's trading, shares of the ocean transportation and logistics services company had gained 6.21% over the past month. This has outpaced the Transportation sector's gain of 0.49% and the S&P 500's gain of 0.39% in that time.
Wall Street will be looking for positivity from Matson as it approaches its next earnings report date. In that report, analysts expect Matson to post earnings of $5.98 per share. This would mark year-over-year growth of 205.1%. Our most recent consensus estimate is calling for quarterly revenue of $1.03 billion, up 47.05% from the year-ago period.
Any recent changes to analyst estimates for Matson should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Matson is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Matson currently has a Forward P/E ratio of 8.39. Its industry sports an average Forward P/E of 16.44, so we one might conclude that Matson is trading at a discount comparatively.
The Transportation - Services industry is part of the Transportation sector. This group has a Zacks Industry Rank of 168, putting it in the bottom 35% 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.
To follow MATX in the coming trading sessions, be sure to utilize Zacks.com.
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