Matson (MATX - Free Report) closed the most recent trading day at $88.64, moving -0.73% from the previous trading session. This move lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.2%.
Prior to today's trading, shares of the ocean transportation and logistics services company had gained 13.35% over the past month. This has outpaced the Transportation sector's gain of 3.28% and the S&P 500's gain of 3.11% in that time.
Wall Street will be looking for positivity from Matson as it approaches its next earnings report date. On that day, Matson is projected to report earnings of $5.98 per share, which would represent year-over-year growth of 205.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.03 billion, up 47.05% from the year-ago period.
MATX's full-year Zacks Consensus Estimates are calling for earnings of $17.56 per share and revenue of $3.69 billion. These results would represent year-over-year changes of +295.5% and +54.73%, respectively.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 12.32% higher within the past month. Matson currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Matson currently has a Forward P/E ratio of 5.09. This valuation marks a discount compared to its industry's average Forward P/E of 17.39.
The Transportation - Services industry is part of the Transportation sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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Matson (MATX - Free Report) closed the most recent trading day at $88.64, moving -0.73% from the previous trading session. This move lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.2%.
Prior to today's trading, shares of the ocean transportation and logistics services company had gained 13.35% over the past month. This has outpaced the Transportation sector's gain of 3.28% and the S&P 500's gain of 3.11% in that time.
Wall Street will be looking for positivity from Matson as it approaches its next earnings report date. On that day, Matson is projected to report earnings of $5.98 per share, which would represent year-over-year growth of 205.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.03 billion, up 47.05% from the year-ago period.
MATX's full-year Zacks Consensus Estimates are calling for earnings of $17.56 per share and revenue of $3.69 billion. These results would represent year-over-year changes of +295.5% and +54.73%, respectively.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. The Zacks Consensus EPS estimate has moved 12.32% higher within the past month. Matson currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Matson currently has a Forward P/E ratio of 5.09. This valuation marks a discount compared to its industry's average Forward P/E of 17.39.
The Transportation - Services industry is part of the Transportation sector. This group has a Zacks Industry Rank of 78, putting it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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