Matthews International Co. (NASDAQ:MATW) Expected to Post FY2024 Earnings of $2.03 Per Share

Matthews International Co. (NASDAQ:MATW) – Equities research analysts at B. Riley cut their FY2024 EPS estimates for shares of Matthews International in a research report issued to clients and investors on Wednesday, September 25th. B. Riley analyst L. Burke now forecasts that the company will post earnings per share of $2.03 for the year, down from their prior estimate of $2.53. B. Riley has a “Buy” rating and a $40.00 price objective 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 Trading Down 2.1 %

Matthews International stock opened at $22.72 on Monday. The firm has a market cap of $697.73 million, a PE ratio of 21.58 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 50 day simple moving average is $25.12 and its two-hundred day simple moving average is $26.54. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64.

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

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.23%. The ex-dividend date was Monday, August 5th. Matthews International’s payout ratio is 90.57%.

Institutional Trading of Matthews International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd acquired a new stake in Matthews International during the 2nd quarter worth $49,000. nVerses Capital LLC purchased a new stake in Matthews International during the 2nd quarter valued at about $110,000. SG Americas Securities LLC purchased a new stake in Matthews International during the 2nd quarter valued at about $112,000. XTX Topco Ltd acquired a new stake in Matthews International in the 2nd quarter valued at about $246,000. Finally, Inspire Investing LLC lifted its stake in Matthews International by 12.3% in the 1st quarter. Inspire Investing LLC now owns 12,992 shares of the company’s stock worth $404,000 after purchasing an additional 1,428 shares in the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

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.