Zacks: Matthews International Corp (MATW) Receives Average Rating of “Strong Buy” from Brokerages
Matthews International Corp (NASDAQ:MATW) has received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokerages have set a one year consensus target price of $92.00 for the company and are forecasting that the company will post $0.58 EPS for the current quarter, according to Zacks. Zacks has also given Matthews International Corp an industry rank of 69 out of 265 based on the ratings given to related companies.
MATW has been the topic of a number of analyst reports. BidaskClub cut Matthews International Corp from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Zacks Investment Research cut Matthews International Corp from a “hold” rating to a “sell” rating in a research note on Saturday, September 23rd. Finally, B. Riley reaffirmed a “buy” rating and issued a $92.00 price target on shares of Matthews International Corp in a research note on Monday.
Shares of Matthews International Corp (NASDAQ:MATW) traded up $0.25 during midday trading on Friday, hitting $53.95. The company had a trading volume of 86,764 shares, compared to its average volume of 92,297. The company has a current ratio of 2.09, a quick ratio of 1.51 and a debt-to-equity ratio of 1.12. The stock has a market cap of $1,726.38, a PE ratio of 15.04 and a beta of 1.12. Matthews International Corp has a 52 week low of $52.85 and a 52 week high of $77.85.
Matthews International Corp (NASDAQ:MATW) last announced its quarterly earnings results on Thursday, November 16th. The company reported $1.06 EPS for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.03). The company had revenue of $396.10 million during the quarter, compared to analysts’ expectations of $389.67 million. Matthews International Corp had a return on equity of 10.80% and a net margin of 5.25%. Matthews International Corp’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.08 earnings per share. sell-side analysts anticipate that Matthews International Corp will post 3.83 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Monday, November 27th will be paid a $0.19 dividend. This is a boost from Matthews International Corp’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Friday, November 24th. Matthews International Corp’s payout ratio is 30.22%.
A number of institutional investors have recently made changes to their positions in MATW. Clarkston Capital Partners LLC increased its stake in Matthews International Corp by 0.5% in the 2nd quarter. Clarkston Capital Partners LLC now owns 1,077,161 shares of the company’s stock worth $65,976,000 after purchasing an additional 5,245 shares during the period. Municipal Employees Retirement System of Michigan grew its position in shares of Matthews International Corp by 3.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,610 shares of the company’s stock worth $466,000 after buying an additional 270 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of Matthews International Corp by 29.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 15,682 shares of the company’s stock worth $961,000 after buying an additional 3,537 shares during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Matthews International Corp by 3.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 46,596 shares of the company’s stock worth $2,851,000 after buying an additional 1,520 shares during the last quarter. Finally, Channing Capital Management LLC grew its position in shares of Matthews International Corp by 2.3% in the 2nd quarter. Channing Capital Management LLC now owns 785,667 shares of the company’s stock worth $48,122,000 after buying an additional 18,004 shares during the last quarter. 77.96% of the stock is currently owned by institutional investors and hedge funds.
About Matthews International Corp
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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