Matthews International Corporation (NASDAQ:MATW) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Stockholders of record on Monday, November 27th will be given a dividend of 0.19 per share on Monday, December 11th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, November 24th. This is a boost from Matthews International Corporation’s previous quarterly dividend of $0.17.
Matthews International Corporation has raised its dividend payment by an average of 14.8% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Matthews International Corporation has a dividend payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings.
Matthews International Corporation (NASDAQ MATW) opened at $54.35 on Friday. Matthews International Corporation has a one year low of $52.85 and a one year high of $77.85. The company has a quick ratio of 1.51, a current ratio of 2.13 and a debt-to-equity ratio of 1.19. The stock has a market cap of $1,749.36, a P/E ratio of 15.22 and a beta of 1.12.
Matthews International Corporation (NASDAQ:MATW) last posted its earnings results on Thursday, November 16th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.03). Matthews International Corporation had a net margin of 4.83% and a return on equity of 16.16%. The firm had revenue of $396.10 million during the quarter, compared to the consensus estimate of $389.67 million. During the same quarter last year, the firm posted $1.08 EPS. The business’s revenue was up 5.1% on a year-over-year basis. sell-side analysts forecast that Matthews International Corporation will post 3.83 EPS for the current fiscal year.
A number of research firms have recently issued reports on MATW. Zacks Investment Research cut shares of Matthews International Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 23rd. BidaskClub cut shares of Matthews International Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Matthews International Corporation presently has a consensus rating of “Hold” and an average price target of $83.50.
About Matthews International Corporation
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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