Wunderlich Increases Matthews International Corp. (MATW) Price Target to $92.00
Matthews International Corp. (NASDAQ:MATW) had its price target boosted by Wunderlich from $75.00 to $92.00 in a report released on Monday. The brokerage currently has a “buy” rating on the stock. Wunderlich’s price target points to a potential upside of 28.49% from the stock’s current price.
Separately, Macquarie boosted their price target on Matthews International Corp. from $57.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, September 22nd.
Matthews International Corp. (NASDAQ:MATW) opened at 71.60 on Monday. The company has a market capitalization of $2.30 billion, a PE ratio of 35.27 and a beta of 0.95. The company has a 50 day moving average of $62.14 and a 200 day moving average of $58.88. Matthews International Corp. has a 1-year low of $45.00 and a 1-year high of $72.35.
Matthews International Corp. (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, November 17th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.11. Matthews International Corp. had a return on equity of 15.48% and a net margin of 4.51%. The firm had revenue of $377 million for the quarter, compared to analyst estimates of $381.57 million. During the same period in the previous year, the firm earned $0.93 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that Matthews International Corp. will post $3.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 28th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.95%. This is a positive change from Matthews International Corp.’s previous quarterly dividend of $0.13. The ex-dividend date is Wednesday, November 23rd. Matthews International Corp.’s dividend payout ratio is presently 29.41%.
In other news, insider Paul C. Jensen sold 914 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $62.24, for a total transaction of $56,887.36. Following the transaction, the insider now directly 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 the SEC website. Insiders own 4.60% of the company’s stock.
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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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