Matson (MATX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Matson (MATX) closed at $72.60, marking a -1.01% move from the previous day. This change lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.2%.
Prior to today's trading, shares of the ocean transportation and logistics services company had lost 13.31% over the past month. This has lagged the Transportation sector's loss of 8.06% and the S&P 500's loss of 8.32% 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.
MATX's full-year Zacks Consensus Estimates are calling for earnings of $28.85 per share and revenue of $4.43 billion. These results would represent year-over-year changes of +34.37% and +12.95%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for 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, 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. The Zacks Consensus EPS estimate has moved 7.95% higher within the past month. Matson is currently a Zacks Rank #2 (Buy).
Digging into valuation, Matson currently has a Forward P/E ratio of 2.54. Its industry sports an average Forward P/E of 9.81, so we one might conclude that Matson is trading at a discount comparatively.
The Transportation - Services industry is part of the Transportation sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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