Minerals Technologies Inc. (MTX) Releases Q3 Earnings Guidance
Minerals Technologies Inc. (NYSE:MTX) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $1.15-1.20 for the period, compared to the Thomson Reuters consensus estimate of $1.24.
Shares of Minerals Technologies Inc. (MTX) traded down 2.68% on Friday, hitting $68.95. 160,145 shares of the company’s stock were exchanged. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 18.19 and a beta of 2.20. Minerals Technologies Inc. has a 12-month low of $63.55 and a 12-month high of $83.85. The company’s 50-day moving average price is $72.64 and its 200 day moving average price is $75.43.
Minerals Technologies (NYSE:MTX) last issued its earnings results on Thursday, August 3rd. The basic materials company reported $1.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The firm had revenue of $414.10 million during the quarter, compared to analysts’ expectations of $427.21 million. Minerals Technologies had a net margin of 8.21% and a return on equity of 15.44%. On average, equities analysts predict that Minerals Technologies Inc. will post $4.72 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Friday, August 25th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, August 23rd. Minerals Technologies’s dividend payout ratio is currently 5.28%.
A number of analysts recently commented on the stock. ValuEngine downgraded shares of Minerals Technologies from a buy rating to a hold rating in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Minerals Technologies from a sell rating to a hold rating in a report on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Minerals Technologies from a sell rating to a strong sell rating in a report on Saturday, June 17th.
Minerals Technologies Company Profile
Minerals Technologies Inc is a resource- and technology-based company that develops, produces and markets a range of specialty mineral, mineral-based and synthetic mineral products and supporting systems and services around the world. It operates through five segments. The Specialty Minerals produces and sells the synthetic mineral product precipitated calcium carbonate (PCC) and processed mineral product quicklime (lime).
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