Matthews Worldwide (MATW) got here out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $0.63 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 20.27%. 1 / 4 in the past, it was anticipated that this casket and memorial producer would publish earnings of $0.45 per share when it really produced earnings of $0.68, delivering a shock of 51.11%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
Matthews Worldwide, which belongs to the Zacks Funeral Providers business, posted revenues of $417.15 million for the quarter ended March 2021, surpassing the Zacks Consensus Estimate by 5.36%. This compares to year-ago revenues of $374.eight million. The corporate has topped consensus income estimates thrice during the last 4 quarters.
The sustainability of the inventory’s rapid worth motion based mostly on the recently-released numbers and future earnings expectations will principally rely upon administration’s commentary on the earnings name.
Matthews Worldwide shares have added about 45.7% because the starting of the 12 months versus the S&P 500’s acquire of 11.4%.
What’s Subsequent for Matthews Worldwide?
Whereas Matthews Worldwide has outperformed the market to date this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis reveals a robust correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a formidable observe document of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for Matthews Worldwide was blended. Whereas the magnitude and course of estimate revisions may change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out in keeping with the market within the close to future. You possibly can see the entire record of in the present day’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It will likely be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.82 on $382.6 million in revenues for the approaching quarter and $3.01 on $1.54 billion in revenues for the present fiscal 12 months.
Traders ought to be conscious of the truth that the outlook for the business can have a cloth affect on the efficiency of the inventory as effectively. By way of the Zacks Business Rank, Funeral Providers is at present within the prime 28% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Matthews Worldwide Company (MATW): Free Inventory Evaluation Report
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