Zacks: Matthews International Corporation (NASDAQ:MATW) Receives Average Rating of “Strong Buy” from Brokerages
Shares of Matthews International Corporation (NASDAQ:MATW) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Analysts have set a twelve-month consensus price target of $92.00 for the company, according to Zacks. Zacks has also given Matthews International Corporation an industry rank of 193 out of 265 based on the ratings given to related companies.
A number of analysts have recently weighed in on MATW shares. Macquarie upgraded shares of Matthews International Corporation from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Wednesday, July 5th. BidaskClub cut shares of Matthews International Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, FBR & Co reiterated an “outperform” rating on shares of Matthews International Corporation in a research note on Tuesday, July 11th.
ILLEGAL ACTIVITY WARNING: This story was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was copied illegally and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.americanbankingnews.com/2017/08/06/zacks-matthews-international-corporation-nasdaqmatw-receives-average-rating-of-strong-buy-from-brokerages.html.
Matthews International Corporation (MATW) traded up 1.07% during midday trading on Friday, reaching $65.85. 47,871 shares of the company traded hands. Matthews International Corporation has a 12 month low of $56.72 and a 12 month high of $77.85. The firm has a 50 day moving average of $64.21 and a 200-day moving average of $66.30. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 27.75 and a beta of 1.11.
Matthews International Corporation (NASDAQ:MATW) last issued its quarterly earnings data on Thursday, July 27th. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.01. Matthews International Corporation had a net margin of 5.17% and a return on equity of 16.23%. The business had revenue of $389.63 million during the quarter, compared to analysts’ expectations of $392.03 million. During the same period in the previous year, the company earned $0.97 earnings per share. Matthews International Corporation’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts forecast that Matthews International Corporation will post $3.55 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 31st will be paid a dividend of $0.17 per share. This is a boost from Matthews International Corporation’s previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, July 27th. Matthews International Corporation’s dividend payout ratio is presently 28.45%.
Institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund boosted its position in Matthews International Corporation by 0.7% in the second quarter. Texas Permanent School Fund now owns 23,509 shares of the company’s stock valued at $1,440,000 after buying an additional 158 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Matthews International Corporation by 3.7% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,610 shares of the company’s stock valued at $466,000 after buying an additional 270 shares during the last quarter. Sei Investments Co. boosted its position in Matthews International Corporation by 5.3% in the second quarter. Sei Investments Co. now owns 20,374 shares of the company’s stock valued at $1,248,000 after buying an additional 1,020 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Matthews International Corporation by 3.4% in the second quarter. Great West Life Assurance Co. Can now owns 46,596 shares of the company’s stock valued at $2,851,000 after buying an additional 1,520 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Matthews International Corporation by 29.1% in the second quarter. Janney Montgomery Scott LLC now owns 15,682 shares of the company’s stock valued at $961,000 after buying an additional 3,537 shares during the last quarter. Hedge funds and other institutional investors own 79.28% of the company’s stock.
Matthews International Corporation Company Profile
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Matthews International Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matthews International Corporation and related companies with MarketBeat.com's FREE daily email newsletter.