Matthews International Corporation (MATW) Raised to Outperform at Macquarie
Matthews International Corporation (NASDAQ:MATW) was upgraded by research analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $75.00 price objective on the stock. Macquarie’s target price would indicate a potential upside of 16.19% from the stock’s current price.
Separately, BidaskClub lowered Matthews International Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th.
Matthews International Corporation (MATW) traded up 0.94% during trading on Wednesday, reaching $64.55. 82,436 shares of the company’s stock traded hands. Matthews International Corporation has a 12 month low of $56.16 and a 12 month high of $77.85. The firm’s 50 day moving average is $64.15 and its 200-day moving average is $68.15. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 29.22 and a beta of 1.09.
Matthews International Corporation (NASDAQ:MATW) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.08. Matthews International Corporation had a return on equity of 16.30% and a net margin of 4.82%. The business had revenue of $380.90 million during the quarter, compared to analyst estimates of $366.42 million. During the same period in the previous year, the firm earned $0.75 EPS. Matthews International Corporation’s quarterly revenue was up 3.7% compared to the same quarter last year. Analysts expect that Matthews International Corporation will post $3.67 EPS for the current fiscal year.
About Matthews International Corporation
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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