Why Shares of Materion Are Plunging This Week

With orders coming in lower than expected, management for advanced materials company Materion (NYSE: MTRN) sees a less profitable 2024 than it had initially expected. As a result, the company downwardly revised its 2024 guidance, motivating investors to trim -- or exit completely -- their positions. Adding to investors' concerns, an analyst provided a more bearish outlook on Materion stock during the week.According to data provided by S&P Global Market Intelligence, shares of Materion are down 10.7% from the end of trading last Friday through the market's close on Thursday.In its second-quarter 2024 financial report, Materion management espoused optimism for the year, projecting 2024 adjusted earnings per share (EPS) of $5.60 to $5.90 -- the midpoint of which represented a 2% increase over that which it reported in 2023.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool