Materion (NYSE:MTRN) Issues 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 Stock Performance

Shares of Materion stock traded up $3.49 during trading on Friday, hitting $105.12. 83,898 shares of the stock were exchanged, compared to its average volume of 98,551. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.21 and a current ratio of 3.15. The stock’s fifty day moving average is $107.16 and its 200 day moving average is $110.79. The stock has a market cap of $2.18 billion, a PE ratio of 29.59 and a beta of 1.17. Materion has a 12 month low of $96.18 and a 12 month high of $145.08.

Materion (NYSE:MTRN) last issued its quarterly earnings data on Wednesday, October 30th. The basic materials company reported $1.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.41. Materion had a net margin of 4.45% and a return on equity of 12.06%. The business had revenue of $436.70 million for the quarter, compared to analysts’ expectations of $416.40 million. During the same period in the previous year, the business earned $1.39 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Materion will post 5.25 EPS for the current year.

Materion Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.135 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.54 annualized dividend and a yield of 0.51%. Materion’s payout ratio is presently 15.21%.

Wall Street Analyst Weigh In

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.