We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Matson (MATX) Moves 9.1% Higher: Will This Strength Last?
Read MoreHide Full Article
Matson (MATX - Free Report) shares soared 9.1% in the last trading session to close at $68.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.8% loss over the past four weeks.
The uptick in the last trading session was owing to the encouraging earnings per share guidance announced by the company for the second quarter of 2021 (detailed results will be out on Jul 29). The company expects second-quarter earnings per share to be in the $3.58-$3.73 range. The Zacks Consensus Estimate for second-quarter earnings is currently pegged at $2.21.
This ocean transportation and logistics services company is expected to post quarterly earnings of $2.21 per share in its upcoming report, which represents a year-over-year change of +190.8%. Revenues are expected to be $763.84 million, up 45.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Matson, the consensus EPS estimate for the quarter has been revised 3.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MATX going forward to see if this recent jump can turn into more strength down the road.
Image: Bigstock
Matson (MATX) Moves 9.1% Higher: Will This Strength Last?
Matson (MATX - Free Report) shares soared 9.1% in the last trading session to close at $68.12. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.8% loss over the past four weeks.
The uptick in the last trading session was owing to the encouraging earnings per share guidance announced by the company for the second quarter of 2021 (detailed results will be out on Jul 29). The company expects second-quarter earnings per share to be in the $3.58-$3.73 range. The Zacks Consensus Estimate for second-quarter earnings is currently pegged at $2.21.
This ocean transportation and logistics services company is expected to post quarterly earnings of $2.21 per share in its upcoming report, which represents a year-over-year change of +190.8%. Revenues are expected to be $763.84 million, up 45.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Matson, the consensus EPS estimate for the quarter has been revised 3.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MATX going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>