Materion (US:MTRN) ZACKSยท2024-10-04 10:05Company Overview - Materion (MTRN) shares increased by 3.5% to $100.43 in the last trading session, following a higher-than-average trading volume, contrasting with a 9.6% loss over the past four weeks [1] - An analyst at Seaport Global Securities maintained a Buy rating on MTRN but reduced the target price from $150.00 to $135.00 [1] Earnings Forecast - Materion revised its earnings per share (EPS) forecast for 2024 to a range of $5.20-5.40 due to lower-than-expected incoming order rates for the second half of 2024 [2] - The company anticipates an EBITDA margin above 20% for the second half of 2024, driven by cost-reduction initiatives and lower incentive compensation [2] Market Outlook - The analyst at Seaport expects sequential improvement in MTRN's performance in Q4 2024 and momentum into 2025, particularly from key markets such as semiconductor, aerospace & defense, and consumer electronics [3] - Materion is projected to report quarterly earnings of $1.41 per share, reflecting a year-over-year increase of 1.4%, with revenues expected to reach $444.35 million, up 10.2% from the previous year [5] Management Changes - Jason Moore has been appointed as the President of Materion's Precision Optics business segment, which focuses on customized optical and thin-film coatings for various industries including space and defense, life sciences, and automotive [4] Earnings Estimate Trends - The consensus EPS estimate for Materion has been revised 5.9% lower over the last 30 days, indicating a negative trend in earnings estimate revisions, which typically does not correlate with price appreciation [7] - Materion currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [7]