Brokers Offer Predictions for Matthews International Co.’s Q3 2024 Earnings (NASDAQ:MATW)

Matthews International Co. (NASDAQ:MATW) – B. Riley lowered their Q3 2024 earnings estimates for Matthews International in a research note issued on Monday, May 6th. B. Riley analyst L. Burke now anticipates that the company will post earnings per share of $0.58 for the quarter, down from their prior forecast of $0.75. B. Riley has a “Buy” rating and a $59.00 price target 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 Q4 2024 earnings at $0.91 EPS and FY2024 earnings at $2.53 EPS.

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

Matthews International Stock Down 0.1 %

MATW opened at $28.69 on Tuesday. The business has a 50 day simple moving average of $28.32 and a 200-day simple moving average of $32.09. Matthews International has a 12 month low of $25.42 and a 12 month high of $48.86. The stock has a market capitalization of $880.27 million, a P/E ratio of 27.07 and a beta of 1.14. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.82 and a quick ratio of 1.12.

Institutional Trading of Matthews International

Several large investors have recently bought and sold shares of the company. Campbell Capital Management Inc. acquired a new position in shares of Matthews International during the 4th quarter worth approximately $4,236,000. Skylands Capital LLC lifted its position in shares of Matthews International by 620.0% in the fourth quarter. Skylands Capital LLC now owns 16,200 shares of the company’s stock valued at $594,000 after acquiring an additional 13,950 shares in the last quarter. Great Lakes Advisors LLC acquired a new stake in shares of Matthews International during the third quarter valued at $2,530,000. Deutsche Bank AG increased its position in Matthews International by 12.5% during the 3rd quarter. Deutsche Bank AG now owns 17,270 shares of the company’s stock worth $672,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Matthews International by 53.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock worth $17,226,000 after purchasing an additional 163,984 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date is Friday, May 3rd. Matthews International’s dividend payout ratio is currently 90.57%.

Matthews International Company Profile

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.