Q3 2024 Earnings Forecast for Matthews International Co. (NASDAQ:MATW) Issued By B. Riley

Matthews International Co. (NASDAQ:MATW) – B. Riley decreased their Q3 2024 earnings per share estimates for shares of Matthews International in a report released 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 previous estimate of $0.77. 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 FY2024 earnings at $2.60 EPS and FY2025 earnings at $2.78 EPS.

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

Matthews International Trading Up 1.1 %

Matthews International stock opened at $26.72 on Monday. The business has a 50-day simple moving average of $28.50 and a two-hundred day simple moving average of $33.02. The company has a market cap of $819.77 million, a P/E ratio of 25.21 and a beta of 1.12. Matthews International has a 52-week low of $25.42 and a 52-week high of $48.86. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 1.69.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) 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%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MATW. Covestor Ltd lifted 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 valued at $43,000 after buying an additional 1,114 shares in the last quarter. Smithfield Trust Co lifted 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 valued at $104,000 after buying an additional 2,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 valued at $193,000 after buying an additional 1,401 shares in the last quarter. D.A. Davidson & CO. purchased a new position in shares of Matthews International during the 3rd quarter valued at about $211,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Matthews International by 17.7% in 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. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 19th. Shareholders of record on Monday, February 5th were paid a dividend of $0.24 per share. 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 3.59%. The ex-dividend date of this dividend was Friday, February 2nd. Matthews International’s payout ratio is currently 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.