Weiss Ratings Reaffirms Sell (D) Rating for Matthews International (NASDAQ:MATW)

Key Points

• Weiss Ratings has reaffirmed a "sell (D)" rating for Matthews International (NASDAQ:MATW), indicating ongoing concerns about the company's stock performance.
• Despite the negative outlook from Weiss Ratings, Wall Street Zen upgraded Matthews International to a "hold" rating on August 9th, reflecting some differing analyst perspectives.
• Matthews International reported a miss in quarterly earnings, with earnings per share of $0.28, falling short of the consensus estimate of $0.33, while revenue surpassed expectations at $349.40 million.

Matthews International (NASDAQ:MATW - Get Free Report)'s stock had its "sell (d)" rating reissued by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen upgraded Matthews International from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of "Sell".

Matthews International Stock Performance

MATW opened at $23.22 on Wednesday. The stock has a market cap of $714.97 million, a PE ratio of -10.95 and a beta of 1.29. The company has a current ratio of 1.66, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. Matthews International has a 1 year low of $18.50 and a 1 year high of $32.24. The stock's 50 day simple moving average is $24.36 and its 200-day simple moving average is $22.84.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.05). The firm had revenue of $349.40 million for the quarter, compared to the consensus estimate of $321.95 million. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. Sell-side analysts forecast that Matthews International will post 1.73 EPS for the current year.

Hedge Funds Weigh In On Matthews International

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Matthews International by 55.1% in the second quarter. GAMMA Investing LLC now owns 1,687 shares of the company's stock worth $40,000 after purchasing an additional 599 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Matthews International by 187.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company's stock worth $69,000 after purchasing an additional 1,880 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in Matthews International by 51.6% in the second quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company's stock worth $74,000 after purchasing an additional 1,048 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Matthews International by 25.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company's stock worth $84,000 after purchasing an additional 689 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in Matthews International by 4,173.1% in the second quarter. Allworth Financial LP now owns 4,615 shares of the company's stock worth $110,000 after purchasing an additional 4,507 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company's stock.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.

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