Materion (NYSE:MTRN) Releases FY24 Earnings Guidance

Materion (NYSE:MTRN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.20-5.40 for the period, compared to the consensus earnings per share estimate of $5.27. Materion also updated its FY 2024 guidance to 5.200-5.400 EPS.

Materion Trading Up 1.3 %

Materion stock traded up $1.37 during mid-day trading on Wednesday, hitting $107.96. The company’s stock had a trading volume of 7,721 shares, compared to its average volume of 98,331. The firm has a market capitalization of $2.24 billion, a PE ratio of 26.69 and a beta of 1.17. Materion has a 1 year low of $96.08 and a 1 year high of $145.08. The stock’s fifty day moving average is $107.60 and its two-hundred day moving average is $110.89. The company has a current ratio of 3.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.51.

Materion (NYSE:MTRN) last announced its earnings results on Monday, August 5th. The basic materials company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Materion had a return on equity of 12.20% and a net margin of 4.80%. The company had revenue of $425.87 million during the quarter, compared to analysts’ expectations of $424.02 million. During the same period last year, the business posted $1.38 EPS. Materion’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts anticipate that Materion will post 5.25 EPS for the current year.

Materion Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Thursday, November 14th. Materion’s dividend payout ratio is currently 13.53%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Materion from a “sell” rating to a “hold” rating in a research note on Thursday, August 8th.

Materion Company Profile

Materion Corporation, together with its subsidiaries, produces advanced engineered materials used in semiconductor, industrial, aerospace and defense, automotive, energy, consumer electronics, and telecom and data center in the United States, Asia, Europe, and internationally. The company operates in four segments: Performance Materials, Electronic Materials, Precision Optics, and Other.