FY2024 EPS Estimates for Matthews International Co. (NASDAQ:MATW) Decreased by Analyst

Matthews International Co. (NASDAQ:MATW - Free Report) - Analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for Matthews International in a research note issued on Wednesday, September 25th. B. Riley analyst L. Burke now forecasts that the company will earn $2.03 per share for the year, down from their previous forecast of $2.53. B. Riley currently has a "Buy" rating and a $40.00 target price on the stock. The consensus estimate for Matthews International's current full-year earnings is $2.53 per share. B. Riley also issued estimates for Matthews International's Q4 2024 earnings at $0.41 EPS and FY2025 earnings at $1.93 EPS.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). The business had revenue of $427.83 million for the quarter, compared to analysts' expectations of $450.03 million. Matthews International had a net margin of 1.43% and a return on equity of 15.79%. During the same period in the prior year, the business earned $0.74 earnings per share.

Matthews International Stock Performance

MATW stock traded down $0.06 during mid-day trading on Monday, hitting $22.91. The company had a trading volume of 77,596 shares, compared to its average volume of 153,215. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66. The firm has a market cap of $703.57 million, a PE ratio of 21.54 and a beta of 1.08. Matthews International has a 12 month low of $22.47 and a 12 month high of $40.80. The stock's fifty day moving average price is $25.20 and its two-hundred day moving average price is $26.58.

Hedge Funds Weigh In On Matthews International

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Matthews International by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company's stock valued at $112,488,000 after buying an additional 76,752 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Matthews International by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,072,951 shares of the company's stock valued at $33,347,000 after acquiring an additional 11,650 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Matthews International by 11.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 652,665 shares of the company's stock valued at $16,349,000 after purchasing an additional 65,188 shares during the last quarter. Barington Capital Group L.P. boosted its position in Matthews International by 18.1% during the second quarter. Barington Capital Group L.P. now owns 385,000 shares of the company's stock worth $9,644,000 after purchasing an additional 59,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Matthews International by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company's stock worth $9,022,000 after purchasing an additional 14,737 shares in the last quarter. 83.08% of the stock is owned by institutional investors.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.19%. Matthews International's dividend payout ratio (DPR) is presently 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.