Matthews International (NASDAQ:MATW) Updates Q4 Earnings Guidance

Matthews International (NASDAQ:MATW) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.96-1.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.14.

A number of brokerages have issued reports on MATW. Zacks Investment Research lowered shares of Matthews International from a hold rating to a strong sell rating in a report on Wednesday, October 23rd. B. Riley cut their target price on shares of Matthews International from $70.00 to $65.00 and set a buy rating on the stock in a research note on Friday, October 18th. BidaskClub raised shares of Matthews International from a hold rating to a buy rating in a research note on Thursday. Finally, ValuEngine raised shares of Matthews International from a strong sell rating to a sell rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Matthews International has an average rating of Hold and an average target price of $50.00.

Shares of MATW traded down $0.50 during trading hours on Friday, reaching $38.17. 80,800 shares of the company traded hands, compared to its average volume of 128,471. Matthews International has a 12 month low of $28.57 and a 12 month high of $47.24. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 9.64 and a beta of 1.20. The company’s fifty day moving average price is $35.71 and its two-hundred day moving average price is $34.57. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 1.09.

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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