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

Matthews International Co. (NASDAQ:MATW) – Analysts at B. Riley dropped their Q3 2024 earnings per share estimates for shares of Matthews International in a research note issued to investors on Thursday, April 18th. B. Riley analyst L. Burke now expects that the company will post earnings per share of $0.75 for the quarter, down from their prior forecast of $0.77. B. Riley currently 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 FY2024 earnings at $2.60 EPS and FY2025 earnings at $2.78 EPS.

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

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

Matthews International Stock Up 2.8 %

Shares of Matthews International stock opened at $26.43 on Monday. The stock has a 50-day moving average price of $28.56 and a 200 day moving average price of $33.10. The company has a market cap of $810.87 million, a P/E ratio of 24.93 and a beta of 1.12. The company has a current ratio of 1.88, a quick ratio of 1.15 and a debt-to-equity ratio of 1.69. Matthews International has a 1 year low of $25.42 and a 1 year high of $48.86.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Campbell Capital Management Inc. bought a new position in shares of Matthews International in the 4th quarter valued at approximately $4,236,000. Great Lakes Advisors LLC acquired a new stake in Matthews International in the 3rd quarter valued at approximately $2,530,000. Deutsche Bank AG grew its holdings in Matthews International by 12.5% in the 3rd quarter. Deutsche Bank AG now owns 17,270 shares of the company’s stock valued at $672,000 after buying an additional 1,914 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Matthews International by 53.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock valued at $17,226,000 after buying an additional 163,984 shares during the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new stake in Matthews International in the 3rd quarter valued at approximately $703,000. 83.08% of the stock is owned by institutional investors.

Matthews International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 19th. Stockholders of record on Monday, February 5th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, February 2nd. This is an increase from Matthews International’s previous quarterly dividend of $0.13. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.63%. Matthews International’s dividend payout ratio (DPR) is 90.57%.

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.