Matthews International (MATW) Updates FY19 Earnings Guidance
Matthews International (NASDAQ:MATW) issued an update on its FY19 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.12-4.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.18.
Shares of MATW traded down $1.15 during trading hours on Thursday, hitting $40.23. The stock had a trading volume of 291,700 shares, compared to its average volume of 142,312. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.05 and a quick ratio of 1.45. Matthews International has a fifty-two week low of $39.74 and a fifty-two week high of $61.25. The stock has a market cap of $1.36 billion, a P/E ratio of 11.18 and a beta of 1.18.
MATW has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Matthews International from a hold rating to a buy rating and set a $57.00 target price for the company in a research note on Wednesday, August 1st. BidaskClub cut shares of Matthews International from a buy rating to a hold rating in a research note on Friday, July 20th. ValuEngine cut shares of Matthews International from a sell rating to a strong sell rating in a research note on Monday, September 24th. Buckingham Research initiated coverage on shares of Matthews International in a research report on Tuesday, October 2nd. They set a buy rating and a $61.00 price objective for the company. Finally, TheStreet cut shares of Matthews International from a b rating to a c+ rating in a research report on Monday, August 20th. Two equities 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. Matthews International presently has an average rating of Hold and an average target price of $70.00.
Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.
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