Materion (NYSE:MTRN) Issues FY24 Earnings Guidance

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

Materion Stock Up 3.4 %

NYSE MTRN traded up $3.49 on Friday, hitting $105.12. 83,898 shares of the stock traded hands, compared to its average volume of 98,551. The stock has a 50-day moving average of $107.16 and a 200 day moving average of $110.79. Materion has a twelve month low of $96.18 and a twelve month high of $145.08. The company has a market capitalization of $2.18 billion, a P/E ratio of 29.59 and a beta of 1.17. The company has a current ratio of 3.15, a quick ratio of 1.21 and a debt-to-equity ratio of 0.51.

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

Materion Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Materion from a “sell” rating to a “hold” rating in a report 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.