Matson eyes best day in over 3 months on upbeat Q4 profit outlook

Matson

20/01/2022 19:47

** Shares of ocean transportation and logistics services
provider  MATX.N  up 8.1% at $92.88
    ** Stock eyes best day since mid-October
    ** Co expects Q4 EPS of $8.70-$9.10, significantly higher
than Refinitiv estimates of $5.38
    ** MATX sees Q4 operating income for its ocean
transportation segment to be $445 mln-$455 mln, up from $108.1
mln in the year-ago quarter as China service continued to see
significant demand for its expedited ocean services  urn:newsml:reuters.com:*:nPn6kwQlCa
    ** Co expects elevated demand for its China service for most
of 2022
    ** MATX to report Q4 earnings on Feb 17
    ** About 461,934 shares of the Honolulu, Hawaii-based
company have traded so far, ~154.1% of their 30-DMA volume
    ** One of two brokerages rate the stock " strong buy", and 1
"hold"; their median PT is $96.50 - Refinitiv data
    ** As of last close, stock down 4.6% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))