Materion (MTRN) Updates FY18 Earnings Guidance

Materion (NYSE:MTRN) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $1.95-2.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.07.

A number of brokerages recently commented on MTRN. TheStreet lowered shares of Materion from a b rating to a c+ rating in a report on Friday, February 16th. Jefferies Group set a $48.00 price target on shares of Materion and gave the company a hold rating in a research note on Thursday, February 15th. ValuEngine upgraded shares of Materion from a buy rating to a strong-buy rating in a research note on Tuesday, April 17th. Finally, Zacks Investment Research lowered shares of Materion from a buy rating to a hold rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $54.00.

MTRN stock traded up $3.30 during midday trading on Thursday, hitting $55.35. The company’s stock had a trading volume of 216,204 shares, compared to its average volume of 127,084. The company has a current ratio of 3.23, a quick ratio of 1.50 and a debt-to-equity ratio of 0.01. Materion has a twelve month low of $33.10 and a twelve month high of $55.90. The firm has a market capitalization of $1,060.12, a P/E ratio of 30.26 and a beta of 0.99.

Materion (NYSE:MTRN) last issued its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.07. Materion had a net margin of 1.00% and a return on equity of 6.95%. The firm had revenue of $303.50 million for the quarter, compared to analyst estimates of $300.73 million. During the same period in the previous year, the business earned $0.29 EPS. The company’s revenue was up 26.1% compared to the same quarter last year. equities research analysts forecast that Materion will post 2.08 EPS for the current fiscal year.

In other news, VP Joseph P. Kelley sold 2,419 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $51.43, for a total transaction of $124,409.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph P. Keithley sold 8,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $50.60, for a total transaction of $404,800.00. Following the transaction, the director now owns 11,757 shares in the company, valued at $594,904.20. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

Materion Company Profile

Materion Corporation, through its subsidiaries, is an integrated producer of engineered materials used in a range of electrical, electronic, thermal, and structural applications. The Company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.

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