Materion (NYSE:MTRN) Updates FY24 Earnings Guidance

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

Analysts Set New Price Targets

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

Materion Stock Up 3.4 %

Shares of NYSE MTRN traded up $3.49 during mid-day trading on Friday, reaching $105.12. 83,898 shares of the company were exchanged, compared to its average volume of 98,551. The company has a quick ratio of 1.21, a current ratio of 3.15 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 29.59 and a beta of 1.17. Materion has a 1 year low of $96.18 and a 1 year high of $145.08. The firm has a 50-day moving average of $107.16 and a 200 day moving average of $110.79.

Materion (NYSE:MTRN) last released its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $1.41 EPS for the quarter, meeting analysts’ consensus estimates of $1.41. Materion had a return on equity of 12.06% and a net margin of 4.45%. The company had revenue of $436.70 million during the quarter, compared to analysts’ expectations of $416.40 million. During the same period last year, the business posted $1.39 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, research analysts expect that Materion will post 5.25 earnings per share for the current year.

Materion Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Thursday, November 14th. Materion’s dividend payout ratio (DPR) is presently 15.21%.

About Materion

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.