Materion Corp. (MTRN) Releases Quarterly Earnings Results, Meets Expectations
Materion Corp. (NASDAQ:MTRN) announced its earnings results on Thursday. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20, Analyst Ratings News reports. The company had revenue of $275.40 million for the quarter, compared to the consensus estimate of $297.70 million. During the same quarter in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. Materion Corp. updated its FY13 guidance to $1.40-1.45 EPS.
Shares of Materion Corp. (NASDAQ:MTRN) opened at 29.04 on Thursday. Materion Corp. has a 1-year low of $18.84 and a 1-year high of $31.75. The stock’s 50-day moving average is $30.49 and its 200-day moving average is $28.92. The company has a market cap of $597.8 million and a P/E ratio of 23.19.
On the ratings front, analysts at DA Davidson cut their price target on shares of Materion Corp. from $37.00 to $35.00 in a research note to investors on Tuesday, October 8th. They now have a “buy” rating on the stock.
Materion Corporation, formerly Brush Engineered Materials Inc, is a holding Company. The Company, through its wholly owned subsidiaries, is an integrated producer of advanced engineered materials used in a variety of electrical, electronic, thermal and structural applications.
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