Neo Performance Materials Inc. (TSE:NEO – Get Rating) – Raymond James cut their Q2 2023 earnings per share estimates for Neo Performance Materials in a report issued on Monday, September 19th. Raymond James analyst F. Bastien now expects that the company will post earnings of $0.39 per share for the quarter, down from their prior forecast of $0.42. Raymond James currently has a “Outperform” rating and a $23.00 target price on the stock. The consensus estimate for Neo Performance Materials’ current full-year earnings is $1.60 per share.
Other analysts have also issued reports about the company. Stifel Nicolaus cut their price target on Neo Performance Materials from C$19.75 to C$17.00 in a report on Monday. Canaccord Genuity Group cut their price target on Neo Performance Materials from C$24.00 to C$18.00 in a report on Tuesday. Finally, Scotiabank lowered their target price on Neo Performance Materials from C$22.00 to C$21.00 in a research report on Monday, August 29th.
Neo Performance Materials Stock Performance
Neo Performance Materials Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Tuesday, September 20th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Monday, September 19th. Neo Performance Materials’s dividend payout ratio is currently 18.83%.
Insider Activity at Neo Performance Materials
In other Neo Performance Materials news, Senior Officer Rahim Suleman purchased 9,200 shares of the stock in a transaction on Thursday, June 23rd. The shares were purchased at an average price of C$11.25 per share, with a total value of C$103,500.00. Following the completion of the transaction, the insider now directly owns 122,256 shares in the company, valued at C$1,375,380.
Neo Performance Materials Company Profile
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.
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