Q3 2024 EPS Estimates for Matthews International Co. (NASDAQ:MATW) Decreased by Analyst

Matthews International Co. (NASDAQ:MATW) – Equities researchers at B. Riley cut their Q3 2024 earnings estimates for Matthews International in a report issued on Thursday, April 18th. B. Riley analyst L. Burke now forecasts that the company will earn $0.75 per share for the quarter, down from their previous estimate of $0.77. B. Riley currently has a “Buy” rating and a $59.00 target price on the stock. The consensus estimate for Matthews International’s current full-year earnings is $2.60 per share. B. Riley also issued estimates for Matthews International’s FY2024 earnings at $2.60 EPS and FY2025 earnings at $2.78 EPS.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $449.99 million during the quarter, compared to the consensus estimate of $437.77 million. Matthews International had a return on equity of 16.44% and a net margin of 1.77%.

Separately, StockNews.com downgraded Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 9th.

Matthews International Stock Performance

NASDAQ MATW opened at $27.28 on Monday. The company has a market capitalization of $837.00 million, a price-to-earnings ratio of 25.74 and a beta of 1.12. Matthews International has a twelve month low of $25.42 and a twelve month high of $48.86. The stock has a fifty day simple moving average of $28.50 and a 200 day simple moving average of $33.02. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 1.69.

Institutional Trading of Matthews International

Institutional investors have recently bought and sold shares of the company. Covestor Ltd boosted its position in shares of Matthews International by 15,914.3% during the 3rd quarter. Covestor Ltd now owns 1,121 shares of the company’s stock worth $43,000 after purchasing an additional 1,114 shares in the last quarter. Smithfield Trust Co boosted its position in shares of Matthews International by 300.0% during the 4th quarter. Smithfield Trust Co now owns 2,800 shares of the company’s stock worth $104,000 after purchasing an additional 2,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Matthews International by 39.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,962 shares of the company’s stock worth $193,000 after purchasing an additional 1,401 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Matthews International during the 3rd quarter worth about $211,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Matthews International by 17.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,841 shares of the company’s stock worth $214,000 after purchasing an additional 879 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.