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Investing.com - Jefferies downgraded Matson , Inc. (NYSE:MATX), the $3.64 billion shipping and logistics company trading at a P/E of 7.28x, from Buy to Hold and lowered its price target to $115.00 from $135.00 on Friday.
The downgrade comes amid what Jefferies described as a "whirlwind year" for China-US container trade, with significant volatility observed throughout the second quarter of 2025.
According to Jefferies, the container shipping market experienced a slowdown in volumes during April, followed by a partial recovery surge in May, before moderating again in June.
The research firm noted that both freight rates and volumes have continued to soften in July, suggesting ongoing weakness in the shipping market.
While Jefferies expects Matson’s second-quarter results to exceed previous expectations, the firm anticipates a softer third quarter, prompting the downward revision of estimates and the rating change.
In other recent news, Matson, Inc. reported strong first-quarter 2025 financial results, with earnings per share (EPS) reaching $2.18, surpassing the forecast of $1.71. Despite exceeding earnings expectations, the company’s revenue slightly missed projections, coming in at $782 million against the anticipated $782.44 million. Matson’s management expressed concerns about future guidance, particularly due to lower anticipated container volumes and freight rates in the second quarter. Additionally, Stifel analysts revised their outlook on Matson, reducing the stock price target from $160 to $130, while maintaining a Hold rating. The revision was influenced by the challenges posed by recent U.S. tariffs and a reported 30% decline in China volumes. In another development, Matson announced a 5.9% increase in its quarterly dividend to $0.36 per share, marking the thirteenth consecutive annual increase. The company remains committed to returning excess capital to shareholders through dividends and share repurchases. Matson’s management highlighted their strategic flexibility and strong customer relationships as key factors in navigating current market uncertainties.
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