Matthews International Corp (NASDAQ:MATW) – Investment analysts at B. Riley raised their Q2 2018 EPS estimates for Matthews International in a report issued on Friday. B. Riley analyst L. Burke now anticipates that the company will post earnings of $0.98 per share for the quarter, up from their previous forecast of $0.91. B. Riley has a “Buy” rating and a $92.00 price target on the stock. B. Riley also issued estimates for Matthews International’s FY2018 earnings at $3.89 EPS.
A number of other research analysts have also recently weighed in on MATW. BidaskClub upgraded Matthews International from a “strong sell” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded Matthews International from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Matthews International currently has an average rating of “Hold” and an average target price of $83.50.
Matthews International (NASDAQ MATW) opened at $58.20 on Monday. Matthews International has a fifty-two week low of $50.10 and a fifty-two week high of $72.60. The firm has a market capitalization of $1,798.64, a price-to-earnings ratio of 18.96 and a beta of 1.08. The company has a debt-to-equity ratio of 1.12, a current ratio of 2.09 and a quick ratio of 1.49.
Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, January 25th. The company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. The firm had revenue of $369.50 million during the quarter, compared to analyst estimates of $355.84 million. During the same quarter in the previous year, the business posted $0.62 EPS. Matthews International’s revenue was up 5.9% compared to the same quarter last year.
Several institutional investors and hedge funds have recently modified their holdings of MATW. Schwab Charles Investment Management Inc. lifted its stake in shares of Matthews International by 3.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 175,231 shares of the company’s stock worth $10,733,000 after purchasing an additional 6,366 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Matthews International by 5.8% during the second quarter. Wells Fargo & Company MN now owns 89,948 shares of the company’s stock worth $5,509,000 after purchasing an additional 4,928 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Matthews International by 60.6% during the second quarter. Riverhead Capital Management LLC now owns 2,731 shares of the company’s stock worth $167,000 after purchasing an additional 1,031 shares in the last quarter. Teachers Advisors LLC lifted its stake in shares of Matthews International by 2.4% during the second quarter. Teachers Advisors LLC now owns 56,632 shares of the company’s stock worth $3,469,000 after purchasing an additional 1,314 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Matthews International by 1.0% during the second quarter. Ameriprise Financial Inc. now owns 180,113 shares of the company’s stock worth $11,031,000 after purchasing an additional 1,816 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 19th. Shareholders of record on Monday, February 5th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date is Friday, February 2nd. Matthews International’s dividend payout ratio is presently 24.76%.
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About Matthews International
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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