Zacks: Brokerages Anticipate Materion Corporation (NYSE:MTRN) to Post $0.40 Earnings Per Share
Equities research analysts expect Materion Corporation (NYSE:MTRN) to post earnings of $0.40 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Materion Corporation’s earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.38. Materion Corporation reported earnings of $0.31 per share in the same quarter last year, which indicates a positive year over year growth rate of 29%. The firm is expected to announce its next earnings report before the market opens on Thursday, July 27th.
On average, analysts expect that Materion Corporation will report full-year earnings of $1.53 per share for the current fiscal year, with EPS estimates ranging from $1.48 to $1.58. For the next year, analysts forecast that the business will post earnings of $2.03 per share, with EPS estimates ranging from $1.89 to $2.16. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Materion Corporation.
Materion Corporation (NYSE:MTRN) last issued its earnings results on Friday, April 28th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Materion Corporation had a net margin of 2.40% and a return on equity of 5.50%. The firm had revenue of $240.67 million for the quarter, compared to analysts’ expectations of $231.58 million. During the same quarter last year, the company posted $0.27 earnings per share. Materion Corporation’s revenue was up 2.2% on a year-over-year basis.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Materion Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reissued a “hold” rating and set a $34.00 price target on shares of Materion Corporation in a research note on Friday, July 7th.
WARNING: “Zacks: Brokerages Anticipate Materion Corporation (NYSE:MTRN) to Post $0.40 Earnings Per Share” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/07/24/zacks-brokerages-anticipate-materion-corporation-nysemtrn-to-post-0-40-earnings-per-share.html.
Shares of Materion Corporation (NYSE MTRN) traded up 0.53% during trading on Monday, reaching $38.00. 54,040 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $36.84 and a 200-day moving average price of $36.15. The company has a market capitalization of $759.47 million, a PE ratio of 33.07 and a beta of 1.15. Materion Corporation has a 52-week low of $24.75 and a 52-week high of $41.22.
In other Materion Corporation news, insider Richard J. Hipple sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $34.17, for a total value of $85,425.00. Following the completion of the sale, the insider now owns 124,591 shares of the company’s stock, valued at $4,257,274.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard J. Hipple sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $33.95, for a total transaction of $169,750.00. Following the completion of the sale, the insider now directly owns 109,591 shares of the company’s stock, valued at approximately $3,720,614.45. The disclosure for this sale can be found here. Insiders sold 72,500 shares of company stock valued at $2,579,650 in the last ninety days. Insiders own 2.90% of the company’s stock.
A number of large investors have recently modified their holdings of MTRN. State Board of Administration of Florida Retirement System boosted its position in Materion Corporation by 15.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 11,630 shares of the basic materials company’s stock valued at $461,000 after buying an additional 1,520 shares during the period. Comerica Bank boosted its position in Materion Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 21,281 shares of the basic materials company’s stock valued at $842,000 after buying an additional 1,151 shares during the period. GSA Capital Partners LLP bought a new position in Materion Corporation during the fourth quarter valued at $321,000. Two Sigma Investments LP bought a new position in Materion Corporation during the fourth quarter valued at $401,000. Finally, Norges Bank bought a new position in Materion Corporation during the fourth quarter valued at $16,167,000. 89.63% of the stock is owned by hedge funds and other institutional investors.
About Materion Corporation
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Materion Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Materion Corporation and related companies with MarketBeat.com's FREE daily email newsletter.