Q2 2023 Earnings Forecast for Neo Performance Materials Inc. Issued By Cormark (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEO – Get Rating) – Research analysts at Cormark reduced their Q2 2023 earnings per share (EPS) estimates for Neo Performance Materials in a report issued on Monday, May 15th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $0.04 for the quarter, down from their previous estimate of $0.24. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.85 per share. Cormark also issued estimates for Neo Performance Materials’ Q3 2023 earnings at $0.12 EPS, Q4 2023 earnings at $0.18 EPS, FY2023 earnings at $0.07 EPS, FY2024 earnings at $0.78 EPS and FY2025 earnings at $1.01 EPS.

Neo Performance Materials (TSE:NEO – Get Rating) last announced its quarterly earnings data on Wednesday, March 29th. The company reported C($0.18) EPS for the quarter, missing the consensus estimate of C$0.12 by C($0.30). The firm had revenue of C$216.11 million for the quarter, compared to analysts’ expectations of C$179.26 million. Neo Performance Materials had a net margin of 4.05% and a return on equity of 5.82%.

Several other research firms have also issued reports on NEO. Raymond James lowered their price target on Neo Performance Materials from C$17.00 to C$14.00 and set an “outperform” rating for the company in a research report on Tuesday. Stifel Nicolaus lowered their price target on Neo Performance Materials from C$15.00 to C$13.00 in a research report on Wednesday, April 19th. Finally, Canaccord Genuity Group lowered their price target on Neo Performance Materials from C$15.00 to C$13.00 in a research report on Thursday, March 30th.

Neo Performance Materials Price Performance

NEO opened at C$8.37 on Thursday. The stock has a 50-day moving average price of C$8.94 and a 200-day moving average price of C$9.81. The company has a debt-to-equity ratio of 10.47, a current ratio of 3.63 and a quick ratio of 1.92. The firm has a market cap of C$378.32 million, a PE ratio of 10.21 and a beta of 1.31. Neo Performance Materials has a 1 year low of C$7.17 and a 1 year high of C$17.20.

Neo Performance Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Tuesday, June 20th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend is Monday, June 19th. Neo Performance Materials’s dividend payout ratio (DPR) is 48.78%.

Neo Performance Materials Company Profile

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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.