Matthews International (NASDAQ:MATW) Updates Q4 Earnings Guidance

Matthews International (NASDAQ:MATW) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.96-1.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.14.

A number of brokerages have commented on MATW. B. Riley reduced their price target on shares of Matthews International from $70.00 to $65.00 and set a buy rating on the stock in a research report on Friday, October 18th. ValuEngine upgraded shares of Matthews International from a strong sell rating to a sell rating in a research report on Wednesday, October 2nd. Zacks Investment Research cut shares of Matthews International from a hold rating to a strong sell rating in a research report on Wednesday, October 23rd. Finally, BidaskClub upgraded shares of Matthews International from a hold rating to a buy rating in a research report on Thursday. Two investment 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’s stock. The stock presently has an average rating of Hold and a consensus target price of $50.00.

NASDAQ MATW traded down $0.50 on Friday, reaching $38.17. 80,800 shares of the company’s stock traded hands, compared to its average volume of 128,471. Matthews International has a 12 month low of $28.57 and a 12 month high of $47.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.96 and a quick ratio of 1.36. The stock has a 50-day simple moving average of $35.71 and a 200 day simple moving average of $34.57. The stock has a market cap of $1.23 billion, a PE ratio of 9.64 and a beta of 1.20.

Matthews International Company Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.

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