Wall Street Zen Downgrades Matthews International (NASDAQ:MATW) to Sell

Key Points

• Wall Street Zen downgraded Matthews International from “Hold” to “Sell,” while Weiss Ratings reaffirmed a “Sell (D+)” rating. The broader analyst consensus is “Reduce,” split between one Hold and one Sell rating.
• Matthews International shares opened at $23.70, down 14.3%, near the lower end of their 12-month range. The company recently reported quarterly EPS of $0.06, missing the $0.41 consensus estimate, while revenue of $246.02 million also fell short of expectations.
• Institutional investors own approximately 83.08% of the company’s shares, with several funds recently increasing their positions or initiating new stakes.

Matthews International (NASDAQ:MATW - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Matthews International in a research report on Monday. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce".

Matthews International Stock Down 14.3%

Shares of NASDAQ MATW opened at $23.70 on Friday. The firm has a fifty day simple moving average of $26.73 and a two-hundred day simple moving average of $26.58. Matthews International has a 12 month low of $21.95 and a 12 month high of $30.93. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $739.44 million, a PE ratio of -25.48 and a beta of 1.09.

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

Hedge Funds Weigh In On Matthews International

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Matthews International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company's stock valued at $393,000 after purchasing an additional 780 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Matthews International in the first quarter worth approximately $1,227,000. Intech Investment Management LLC raised its holdings in shares of Matthews International by 316.4% during the first quarter. Intech Investment Management LLC now owns 59,502 shares of the company's stock valued at $1,323,000 after purchasing an additional 45,212 shares during the last quarter. American Century Companies Inc. boosted its holdings in Matthews International by 7.9% in the second quarter. American Century Companies Inc. now owns 64,988 shares of the company's stock worth $1,554,000 after purchasing an additional 4,742 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Matthews International in the 2nd quarter worth approximately $1,406,000. 83.08% of the stock is currently owned by institutional investors.

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.

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