Materion Corporation
(MTRN) shares soared 5.6% in the last trading session to close at $73.21. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 14.1% loss over the past four weeks.
Materion’s rally is largely driven by optimism over the company’s strong momentum in its industrial, energy, consumer electronics, aerospace & defense and telecom & data center end markets. Strong orders for products and services and the acquisition of HCS-Electronic Materials bode well for the company.
This supplier of engineered materials to technology companies is expected to post quarterly earnings of $1.22 per share in its upcoming report, which represents a year-over-year change of +41.9%. Revenues are expected to be $458.45 million, up 23.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Materion, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MTRN going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see
the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
Materion belongs to the Zacks Mining – Miscellaneous industry. Another stock from the same industry, Wheaton Precious Metals Corp. (WPM), closed the last trading session 2.8% higher at $38.20. Over the past month, WPM has returned -12.2%.
Wheaton Precious Metals Corp.’s consensus EPS estimate for the upcoming report has changed +0.8% over the past month to $0.36. Compared to the company’s year-ago EPS, this represents no change. Wheaton Precious Metals Corp. currently boasts a Zacks Rank of #3 (Hold).
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