Separately, Zacks Investment Research upgraded Matthews International from a hold rating to a buy rating and set a $35.00 price objective on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $57.50.
Shares of NASDAQ:MATW traded up $1.07 during midday trading on Friday, reaching $34.59. The company’s stock had a trading volume of 76,274 shares, compared to its average volume of 150,999. The business has a 50 day moving average price of $32.91 and a 200 day moving average price of $34.69. Matthews International has a 1 year low of $28.57 and a 1 year high of $47.24. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 1.09. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 8.73 and a beta of 1.20.
Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by ($0.04). Matthews International had a net margin of 4.04% and a return on equity of 13.20%. The firm had revenue of $379.30 million for the quarter, compared to analysts’ expectations of $388.38 million. During the same period last year, the firm posted $1.16 EPS. Matthews International’s revenue was down 7.8% on a year-over-year basis. Sell-side analysts anticipate that Matthews International will post 3.6 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new position in shares of Matthews International in the second quarter worth about $26,000. Advisor Group Inc. raised its stake in Matthews International by 30.2% during the second quarter. Advisor Group Inc. now owns 1,683 shares of the company’s stock valued at $59,000 after buying an additional 390 shares in the last quarter. Bank of Montreal Can raised its stake in Matthews International by 247.8% during the second quarter. Bank of Montreal Can now owns 3,624 shares of the company’s stock valued at $126,000 after buying an additional 2,582 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Matthews International during the first quarter valued at approximately $211,000. Finally, SG Americas Securities LLC acquired a new stake in Matthews International during the first quarter valued at approximately $215,000. Institutional investors and hedge funds own 81.44% of the company’s stock.
About Matthews International
Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.
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