Matthews International (MATW) Surges 14.5%: Is This an Indication of Further Gains?

Stock Performance - Matthews International (MATW) shares rallied 14.5% in the last trading session to close at $31.03, driven by notable trading volume [1] - This compares to the stock's 12.5% loss over the past four weeks [1] - Carriage Services (CSV), another stock in the Funeral Services industry, closed the last trading session 1.1% higher at$ 39.35 [5] - Over the past month, CSV has returned -2.1% [5] Recent Developments - Matthews International's shares got a boost from its agreement to sell its stake in SGK Brand Solutions to a newly created entity formed by affiliates of SGS & Co [2] - The deal is expected to help Matthews International reduce debt and streamline operations [2] Earnings and Revenue Expectations - Matthews International is expected to post quarterly earnings of $0.26 per share, representing a year-over-year change of -29.7% [3] - Revenues are expected to be$ 428.36 million, down 4.8% from the year-ago quarter [3] - The consensus EPS estimate for Matthews International has remained unchanged over the last 30 days [5] - Carriage Services' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.51 [6] - Compared to the company's year-ago EPS, this represents a change of -33.8% [6] Industry and Rankings - Matthews International belongs to the Zacks Funeral Services industry [5] - The stock currently carries a Zacks Rank 2 (Buy) [5] - Carriage Services currently boasts a Zacks Rank of 3 (Hold) [6] Market Trends - Empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements [4] - A stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions [5]