Separately, Wunderlich upped their target price on Matthews International Corp. from $65.00 to $75.00 and gave the company a buy rating in a report on Friday, July 29th.
Shares of Matthews International Corp. (NASDAQ:MATW) opened at 59.94 on Thursday. Matthews International Corp. has a 1-year low of $45.00 and a 1-year high of $62.85. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 33.12 and a beta of 1.02. The stock has a 50 day moving average of $60.92 and a 200 day moving average of $55.69.
Matthews International Corp. (NASDAQ:MATW) last announced its earnings results on Thursday, July 28th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company earned $382.06 million during the quarter, compared to the consensus estimate of $385.34 million. Matthews International Corp. had a return on equity of 14.87% and a net margin of 4.07%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. Analysts predict that Matthews International Corp. will post $3.30 EPS for the current year.
In other Matthews International Corp. news, insider Paul C. Jensen sold 914 shares of the stock in a transaction on Friday, September 2nd. The stock was sold at an average price of $62.24, for a total value of $56,887.36. Following the completion of the transaction, the insider now owns 24,679 shares in the company, valued at $1,536,020.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David A. Schawk sold 25,000 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $60.52, for a total value of $1,513,000.00. The disclosure for this sale can be found here. 4.60% of the stock is owned by company insiders.
Matthews International Corp. Company Profile
Matthews International Corporation is a designer, manufacturer and marketer of memorialization products and brand solutions. The Company’s products and operations consist of six business segments: Cemetery Products, Funeral Home Products, Cremation, Graphics Imaging, Marking and Fulfillment Systems, and Merchandising Solutions.
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