Matson (MATX) shares ended the last trading session 4.8% higher at $107.86. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 21.5% loss over the past four weeks.
The stock gained following President Donald Trump's announcement that he would pause the "reciprocal" import taxes for 90 days.
This ocean transportation and logistics services company is expected to post quarterly earnings of $2.64 per share in its upcoming report, which represents a year-over-year change of +153.9%. Revenues are expected to be $836.84 million, up 15.9% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Matson is a member of the Zacks Transportation - Services industry. One other stock in the same industry, Grupo Aeroportuario del Pacifico (PAC), finished the last trading session 6.1% higher at $185.78. PAC has returned -3.6% over the past month.
For Grupo Aeroportuario del Pacifico
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Matson, Inc. (MATX): Free Stock Analysis Report Grupo Aeroportuario Del Pacifico, S.A. de C.V. (PAC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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