Cormark Research Analysts Decrease Earnings Estimates for Neo Performance Materials Inc. (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEOFree Report) – Investment analysts at Cormark decreased their Q2 2024 earnings per share estimates for Neo Performance Materials in a report issued on Monday, May 13th. Cormark analyst D. Ocampo now forecasts that the company will earn $0.07 per share for the quarter, down from their previous estimate of $0.14. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.53 per share. Cormark also issued estimates for Neo Performance Materials’ Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.16 EPS, Q1 2025 earnings at $0.22 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.25 EPS and FY2026 earnings at $1.08 EPS.

Neo Performance Materials (TSE:NEOGet Free Report) last issued its quarterly earnings results on Friday, March 15th. The company reported C$0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.15 by C($0.12). The company had revenue of C$175.19 million for the quarter, compared to analyst estimates of C$187.67 million. Neo Performance Materials had a negative return on equity of 1.84% and a negative net margin of 1.48%.

A number of other analysts have also weighed in on NEO. Raymond James lowered their price target on shares of Neo Performance Materials from C$13.00 to C$11.00 and set an “outperform” rating for the company in a report on Monday, March 18th. Stifel Nicolaus lowered their price target on shares of Neo Performance Materials from C$9.00 to C$7.50 and set a “hold” rating for the company in a report on Monday, March 18th.

Read Our Latest Research Report on NEO

Neo Performance Materials Price Performance

Shares of NEO stock opened at C$6.14 on Wednesday. Neo Performance Materials has a 1 year low of C$5.50 and a 1 year high of C$9.50. The company has a current ratio of 3.08, a quick ratio of 1.92 and a debt-to-equity ratio of 6.76. The firm’s 50 day moving average is C$6.16 and its 200-day moving average is C$6.94. The firm has a market capitalization of C$256.10 million, a price-to-earnings ratio of -23.62 and a beta of 1.43.

Neo Performance Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 18th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date is Tuesday, June 18th. Neo Performance Materials’s dividend payout ratio is currently -153.85%.

Insider Activity at Neo Performance Materials

In other Neo Performance Materials news, Senior Officer Jonathan Baksh bought 13,575 shares of the stock in a transaction on Tuesday, March 19th. The stock was purchased at an average price of C$6.14 per share, with a total value of C$83,384.44. In other Neo Performance Materials news, Director Rahim Suleman bought 60,000 shares of the stock in a transaction on Tuesday, March 19th. The stock was purchased at an average price of C$6.05 per share, with a total value of C$363,000.00. Also, Senior Officer Jonathan Baksh bought 13,575 shares of the stock in a transaction on Tuesday, March 19th. The shares were acquired at an average cost of C$6.14 per share, with a total value of C$83,384.44. Insiders purchased a total of 81,175 shares of company stock valued at $492,578 over the last quarter. Corporate insiders own 21.76% of the company’s stock.

About Neo Performance Materials

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Neo Performance Materials Inc engages in the manufacture and sale of 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; and bonded magnets.

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

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