Brokers Set Expectations for Neo Performance Materials Inc.’s Q1 2023 Earnings (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEOGet Rating) – Research analysts at Cormark dropped their Q1 2023 earnings per share (EPS) estimates for shares of Neo Performance Materials in a research note issued to investors on Tuesday, September 20th. Cormark analyst D. Ocampo now expects that the company will post earnings per share of $0.40 for the quarter, down from their prior forecast of $0.42. The consensus estimate for Neo Performance Materials’ current full-year earnings is $1.60 per share. Cormark also issued estimates for Neo Performance Materials’ Q2 2023 earnings at $0.40 EPS and FY2024 earnings at $1.70 EPS.

A number of other equities research analysts have also recently weighed in on the company. Raymond James dropped their price target on Neo Performance Materials from C$25.00 to C$23.00 and set an “outperform” rating for the company in a report on Monday. Scotiabank dropped their price target on Neo Performance Materials from C$22.00 to C$21.00 in a report on Monday, August 29th. Stifel Nicolaus dropped their price target on Neo Performance Materials from C$19.75 to C$17.00 in a report on Monday. Finally, Canaccord Genuity Group lowered their target price on Neo Performance Materials from C$24.00 to C$18.00 in a research note on Tuesday.

Neo Performance Materials Trading Down 3.5 %

NEO stock opened at C$11.97 on Wednesday. The business has a fifty day moving average price of C$13.54 and a 200 day moving average price of C$13.64. Neo Performance Materials has a fifty-two week low of C$10.48 and a fifty-two week high of C$22.85. The stock has a market capitalization of C$540.91 million and a price-to-earnings ratio of 7.17. The company has a debt-to-equity ratio of 4.18, a current ratio of 3.67 and a quick ratio of 1.44.

Insider Activity

In related news, Senior Officer Rahim Suleman purchased 9,200 shares of Neo Performance Materials stock in a transaction dated Thursday, June 23rd. The shares were acquired at an average cost of C$11.25 per share, for a total transaction of C$103,500.00. Following the transaction, the insider now directly owns 122,256 shares of the company’s stock, valued at C$1,375,380.

Neo Performance Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Tuesday, September 20th will be paid a $0.10 dividend. The ex-dividend date is Monday, September 19th. This represents a $0.40 annualized dividend and a dividend yield of 3.34%. Neo Performance Materials’s dividend payout ratio (DPR) is currently 18.83%.

Neo Performance Materials Company Profile

(Get Rating)

Neo Performance Materials Inc manufactures and sells rare earth, magnetic powders, magnets, and rare metal-based functional materials in Canada and internationally. The company operates in three segments: Magnequench, Chemicals and Oxides, and Rare Metals. The Magnequench segment produces magnetic powders that are used in bonded and hot deformed fully dense neodymium-iron-boron magnets.

See Also

Earnings History and Estimates for Neo Performance Materials (TSE:NEO)

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