B. Riley Weighs in on Matthews International Corp’s Q4 2018 Earnings (MATW)
Matthews International Corp (NASDAQ:MATW) – Stock analysts at B. Riley boosted their Q4 2018 earnings per share (EPS) estimates for Matthews International in a research report issued to clients and investors on Monday. B. Riley analyst L. Burke now forecasts that the company will earn $1.26 per share for the quarter, up from their prior forecast of $1.21. B. Riley currently has a “Buy” rating and a $92.00 price target on the stock. B. Riley also issued estimates for Matthews International’s FY2019 earnings at $4.18 EPS.
Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, January 25th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. Matthews International had a return on equity of 15.09% and a net margin of 6.46%. The business had revenue of $369.50 million during the quarter, compared to analysts’ expectations of $355.84 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year.
Shares of Matthews International (NASDAQ MATW) traded down $1.00 during trading on Tuesday, hitting $52.75. The company’s stock had a trading volume of 113,600 shares, compared to its average volume of 190,690. Matthews International has a fifty-two week low of $50.10 and a fifty-two week high of $72.60. The firm has a market capitalization of $1,735.67, a PE ratio of 17.18 and a beta of 1.11. The company has a quick ratio of 1.48, a current ratio of 2.10 and a debt-to-equity ratio of 1.20.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 19th. Investors of record on Monday, February 5th will be issued a $0.19 dividend. The ex-dividend date is Friday, February 2nd. This represents a $0.76 annualized dividend and a dividend yield of 1.44%. Matthews International’s dividend payout ratio is presently 24.76%.
In related news, Director Tunon Alvaro Garcia purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was purchased at an average price of $52.00 per share, with a total value of $52,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert M. Marsh purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average cost of $55.50 per share, with a total value of $166,500.00. Following the acquisition, the vice president now owns 16,207 shares of the company’s stock, valued at approximately $899,488.50. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC grew its position in Matthews International by 177.9% in the fourth quarter. Renaissance Technologies LLC now owns 281,650 shares of the company’s stock worth $14,871,000 after acquiring an additional 180,297 shares during the period. Geode Capital Management LLC grew its position in Matthews International by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 288,621 shares of the company’s stock worth $15,239,000 after acquiring an additional 1,533 shares during the period. Quadrature Capital Ltd purchased a new position in Matthews International in the fourth quarter worth approximately $391,000. Suntrust Banks Inc. grew its position in Matthews International by 12.2% in the fourth quarter. Suntrust Banks Inc. now owns 8,755 shares of the company’s stock worth $462,000 after acquiring an additional 955 shares during the period. Finally, Citadel Advisors LLC grew its position in Matthews International by 88.3% in the fourth quarter. Citadel Advisors LLC now owns 55,757 shares of the company’s stock worth $2,944,000 after acquiring an additional 26,153 shares during the period. Institutional investors own 77.61% of the company’s stock.
About Matthews International
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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