Matthews International Corp. (MATW) Posts Quarterly Earnings Results
Matthews International Corp. (NASDAQ:MATW) posted its earnings results on Thursday. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.11. The firm had revenue of $377 million for the quarter, compared to the consensus estimate of $381.57 million. Matthews International Corp. had a return on equity of 14.87% and a net margin of 4.07%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.93 earnings per share.
Matthews International Corp. (NASDAQ:MATW) opened at 68.35 on Friday. The company has a market cap of $2.19 billion, a PE ratio of 37.76 and a beta of 0.95. Matthews International Corp. has a 12-month low of $45.00 and a 12-month high of $68.45. The stock has a 50 day moving average of $61.21 and a 200 day moving average of $58.37.
The company also recently declared a dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 28th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This is a boost from Matthews International Corp.’s previous dividend of $0.13. Matthews International Corp.’s dividend payout ratio is presently 33.15%.
In related news, insider Paul C. Jensen sold 914 shares of the firm’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $62.24, for a total transaction of $56,887.36. Following the completion of the sale, the insider now owns 24,679 shares of the company’s stock, valued at $1,536,020.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.60% of the company’s stock.
Several equities research analysts have issued reports on the company. Macquarie increased their target price on Matthews International Corp. from $57.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, September 22nd. Wunderlich upped their price target on shares of Matthews International Corp. from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, July 29th.
About Matthews International Corp.
Matthews International Corporation is a designer, manufacturer and marketer of memorialization products and brand solutions. The Company’s products and operations consist of six business segments: Cemetery Products, Funeral Home Products, Cremation, Graphics Imaging, Marking and Fulfillment Systems, and Merchandising Solutions.
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