Q3 2024 EPS Estimates for Matthews International Co. (NASDAQ:MATW) Decreased by Analyst

Matthews International Co. (NASDAQ:MATW) – B. Riley reduced their Q3 2024 earnings per share estimates for Matthews International in a research note issued on Thursday, April 18th. B. Riley analyst L. Burke now expects that the company will post earnings of $0.75 per share for the quarter, down from their prior estimate of $0.77. B. Riley currently has a “Buy” rating and a $59.00 target price on the stock. The consensus estimate for Matthews International’s current full-year earnings is $2.60 per share. B. Riley also issued estimates for Matthews International’s FY2024 earnings at $2.60 EPS and FY2025 earnings at $2.78 EPS.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Matthews International had a return on equity of 16.44% and a net margin of 1.77%. The business had revenue of $449.99 million for the quarter, compared to the consensus estimate of $437.77 million.

Separately, StockNews.com cut Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Matthews International Stock Performance

Shares of MATW stock opened at $27.28 on Monday. Matthews International has a 1-year low of $25.42 and a 1-year high of $48.86. The company has a current ratio of 1.88, a quick ratio of 1.15 and a debt-to-equity ratio of 1.69. The company has a market capitalization of $837.00 million, a price-to-earnings ratio of 25.74 and a beta of 1.12. The stock’s fifty day simple moving average is $28.50 and its 200-day simple moving average is $33.02.

Institutional Trading of Matthews International

A number of institutional investors have recently bought and sold shares of MATW. Norges Bank acquired a new stake in Matthews International during the fourth quarter valued at $7,200,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Matthews International by 53.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock worth $17,226,000 after acquiring an additional 163,984 shares in the last quarter. Campbell Capital Management Inc. bought a new stake in shares of Matthews International during the 4th quarter worth about $4,236,000. Jupiter Asset Management Ltd. bought a new stake in shares of Matthews International during the 3rd quarter worth about $3,882,000. Finally, Great Lakes Advisors LLC bought a new stake in shares of Matthews International during the 3rd quarter worth about $2,530,000. Institutional investors and hedge funds 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.