BidaskClub Lowers Matthews International (NASDAQ:MATW) to Strong Sell

BidaskClub cut shares of Matthews International (NASDAQ:MATW) from a sell rating to a strong sell rating in a report issued on Thursday, BidAskClub reports.

Separately, Zacks Investment Research upgraded shares of Matthews International from a hold rating to a buy rating and set a $35.00 target price on the stock in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $58.67.

MATW opened at $31.04 on Thursday. The company’s 50 day moving average is $33.22 and its 200-day moving average is $36.59. Matthews International has a 1-year low of $29.04 and a 1-year high of $53.70. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 1.09. The company has a market cap of $952.84 million, a P/E ratio of 7.84 and a beta of 1.16.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). Matthews International had a net margin of 4.04% and a return on equity of 13.20%. The company had revenue of $379.30 million during the quarter, compared to analyst estimates of $388.38 million. During the same quarter in the previous year, the business posted $1.16 earnings per share. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, equities analysts forecast that Matthews International will post 3.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, August 2nd. This is an increase from Matthews International’s previous quarterly dividend of $0.13. This represents a $0.80 annualized dividend and a yield of 2.58%. Matthews International’s dividend payout ratio (DPR) is currently 20.20%.

Large investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new stake in Matthews International during the 2nd quarter worth approximately $26,000. Advisor Group Inc. boosted its position in Matthews International by 30.2% during the 2nd quarter. Advisor Group Inc. now owns 1,683 shares of the company’s stock worth $59,000 after buying an additional 390 shares during the period. Bank of Montreal Can boosted its position in Matthews International by 247.8% during the 2nd quarter. Bank of Montreal Can now owns 3,624 shares of the company’s stock worth $126,000 after buying an additional 2,582 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in Matthews International during the 1st quarter worth approximately $211,000. Finally, SG Americas Securities LLC acquired a new stake in Matthews International during the 1st quarter worth approximately $215,000. Institutional investors and hedge funds own 82.29% 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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