Matthews International Corp (NASDAQ:MATW) – Equities research analysts at B. Riley decreased their Q2 2019 earnings estimates for shares of Matthews International in a research note issued on Thursday, April 18th, Zacks Investment Research reports. B. Riley analyst L. Burke now expects that the company will earn $0.94 per share for the quarter, down from their prior estimate of $1.05. B. Riley also issued estimates for Matthews International’s Q3 2019 earnings at $1.15 EPS, Q4 2019 earnings at $1.41 EPS, FY2019 earnings at $4.00 EPS and FY2020 earnings at $4.29 EPS.
Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Matthews International from a “hold” rating to a “sell” rating in a research report on Monday, May 6th. Zacks Investment Research upgraded shares of Matthews International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Wellington Shields downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Matthews International has an average rating of “Hold” and a consensus price target of $66.00.
Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, May 2nd. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). Matthews International had a net margin of 4.58% and a return on equity of 14.25%. The company had revenue of $391.40 million during the quarter, compared to analyst estimates of $408.09 million. During the same quarter in the previous year, the company posted $0.93 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.80 annualized dividend and a yield of 2.16%. Matthews International’s dividend payout ratio (DPR) is 20.20%.
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Matthews International during the 4th quarter worth $15,403,000. Fort Pitt Capital Group LLC purchased a new position in Matthews International during the 4th quarter worth $10,686,000. BlackRock Inc. raised its position in Matthews International by 3.4% during the 3rd quarter. BlackRock Inc. now owns 4,564,558 shares of the company’s stock worth $228,913,000 after buying an additional 150,524 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Matthews International by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,737,395 shares of the company’s stock worth $70,573,000 after buying an additional 141,901 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Matthews International by 58.5% during the 3rd quarter. Nordea Investment Management AB now owns 318,175 shares of the company’s stock worth $15,957,000 after buying an additional 117,453 shares during the last quarter. Hedge funds and other institutional investors own 84.22% of the company’s stock.
Matthews International Company Profile
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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