Materion Corp. (MTRN) Issues FY14 Earnings Guidance
Materion Corp. (NYSE:MTRN) issued an update on its FY14 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.75-1.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.83, StockRatingsNetwork reports.
On a related note, analysts at Zacks upgraded shares of Materion Corp. from an underperform rating to a neutral rating in a research note on Monday, December 9th. They now have a $28.50 price target on the stock.
Materion Corp. (NYSE:MTRN) traded up 0.22% during mid-day trading on Wednesday, hitting $27.90. 61,024 shares of the company’s stock traded hands. Materion Corp. has a 1-year low of $24.58 and a 1-year high of $33.69. The stock has a 50-day moving average of $27.93 and a 200-day moving average of $29.. The company has a market cap of $575.3 million and a P/E ratio of 24.81.
Materion Corp. (NYSE:MTRN) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.11. The company had revenue of $286.14 million for the quarter, compared to the consensus estimate of $273.91 million. During the same quarter last year, the company posted $0.41 earnings per share. Materion Corp.’s revenue was down 5.8% compared to the same quarter last year. On average, analysts predict that Materion Corp. will post $1.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, March 6th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Tuesday, February 18th.
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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