B. Riley Analysts Reduce Earnings Estimates for Matthews International Co. (NASDAQ:MATW)

Matthews International Co. (NASDAQ:MATW) – B. Riley lowered their Q3 2024 earnings per share estimates for shares of Matthews International in a research report issued on Monday, May 6th. B. Riley analyst L. Burke now forecasts that the company will post earnings per share of $0.58 for the quarter, down from their previous estimate of $0.75. 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 Q4 2024 earnings at $0.91 EPS and FY2024 earnings at $2.53 EPS.

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

Matthews International Price Performance

MATW stock opened at $28.71 on Tuesday. The company’s 50-day moving average is $28.32 and its 200-day moving average is $32.11. The stock has a market capitalization of $880.88 million, a PE ratio of 27.08 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. Matthews International has a 1 year low of $25.42 and a 1 year high of $48.86.

Institutional Investors Weigh In On Matthews International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Campbell Capital Management Inc. bought a new stake in shares of Matthews International in the 4th quarter worth $4,236,000. Skylands Capital LLC grew its position in Matthews International by 620.0% in the 4th quarter. Skylands Capital LLC now owns 16,200 shares of the company’s stock worth $594,000 after purchasing an additional 13,950 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in Matthews International in the 3rd quarter valued at about $2,530,000. Deutsche Bank AG lifted its position in shares of 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 buying an additional 1,914 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Matthews International by 53.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock worth $17,226,000 after buying an additional 163,984 shares during the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.96 annualized dividend and a dividend yield of 3.34%. Matthews International’s payout ratio 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.