Matthews International Corporation (MATW) To Go Ex-Dividend on August 10th

Matthews International Corporation (NASDAQ:MATW) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Monday, August 10th will be paid a dividend of 0.255 per share on Monday, August 24th. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Monday, August 10th.

Matthews International has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 30 consecutive years. Matthews International has a dividend payout ratio of 136.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Matthews International to earn $1.24 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 82.3%.

Matthews International Price Performance

Shares of NASDAQ:MATW opened at $23.70 on Friday. The stock has a market capitalization of $739.44 million, a P/E ratio of -25.48 and a beta of 1.09. The business has a 50-day moving average of $26.73 and a two-hundred day moving average of $26.58. Matthews International has a fifty-two week low of $21.95 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.64 and a quick ratio of 0.97.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The company had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million. Matthews International had a positive return on equity of 4.46% and a negative net margin of 2.65%. On average, equities research analysts predict that Matthews International will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MATW has been the topic of several research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Matthews International in a report on Monday. Wall Street Zen cut Matthews International from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Matthews International Company Profile

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.