Analysts expect Materion Corp (NYSE:MTRN) to report sales of $295.73 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Materion’s earnings, with the highest sales estimate coming in at $299.60 million and the lowest estimate coming in at $293.60 million. Materion posted sales of $297.19 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.5%. The company is expected to report its next earnings report before the market opens on Thursday, October 24th.
On average, analysts expect that Materion will report full year sales of $1.19 billion for the current fiscal year, with estimates ranging from $1.18 billion to $1.19 billion. For the next year, analysts expect that the firm will report sales of $1.21 billion, with estimates ranging from $1.19 billion to $1.23 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Materion.
Materion (NYSE:MTRN) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. The company had revenue of $297.84 million for the quarter, compared to analyst estimates of $306.43 million. Materion had a return on equity of 11.08% and a net margin of 2.64%. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share.
A number of institutional investors and hedge funds have recently modified their holdings of MTRN. Nuveen Asset Management LLC acquired a new position in Materion in the second quarter valued at approximately $26,938,000. BlackRock Inc. lifted its stake in Materion by 5.8% in the second quarter. BlackRock Inc. now owns 3,266,269 shares of the basic materials company’s stock valued at $221,486,000 after buying an additional 178,493 shares during the period. Renaissance Technologies LLC lifted its stake in Materion by 54.4% in the second quarter. Renaissance Technologies LLC now owns 264,800 shares of the basic materials company’s stock valued at $17,956,000 after buying an additional 93,300 shares during the period. Morgan Stanley lifted its stake in Materion by 69.0% in the second quarter. Morgan Stanley now owns 173,383 shares of the basic materials company’s stock valued at $11,759,000 after buying an additional 70,773 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Materion by 89.1% in the second quarter. Fisher Asset Management LLC now owns 145,777 shares of the basic materials company’s stock valued at $9,885,000 after buying an additional 68,684 shares during the period. 87.65% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Materion stock traded down $0.76 during midday trading on Friday, reaching $61.52. The company had a trading volume of 61,694 shares, compared to its average volume of 104,517. The stock has a fifty day moving average price of $61.67 and a 200 day moving average price of $62.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.63 and a quick ratio of 1.93. The firm has a market cap of $1.27 billion, a PE ratio of 25.85 and a beta of 0.91. Materion has a fifty-two week low of $42.50 and a fifty-two week high of $71.97.
Materion Corporation manufactures and sells advanced engineered materials used in consumer electronics, industrial components, defense, medical, automotive electronics, telecommunications infrastructure, energy, commercial aerospace, science, services, and appliance markets worldwide. The company operates in four segments: Performance Alloys and Composites, Advanced Materials, Precision Coatings, and Other.
Read More: Why is the ROA ratio important?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Materion Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Materion and related companies with MarketBeat.com's FREE daily email newsletter.