Raymond James Comments on Neo Performance Materials Inc.’s Q2 2024 Earnings (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEOFree Report) – Research analysts at Raymond James cut their Q2 2024 earnings estimates for shares of Neo Performance Materials in a note issued to investors on Monday, May 13th. Raymond James analyst F. Bastien now expects that the company will post earnings per share of $0.04 for the quarter, down from their prior estimate of $0.09. Raymond James currently has a “Outperform” rating and a $11.00 price target on the stock. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.53 per share. Raymond James also issued estimates for Neo Performance Materials’ FY2024 earnings at $0.41 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.11 EPS, Q3 2025 earnings at $0.18 EPS and FY2025 earnings at $0.55 EPS.

Separately, Stifel Nicolaus lowered their target price 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.

View Our Latest Research Report on NEO

Neo Performance Materials Stock Up 0.7 %

TSE NEO opened at C$6.14 on Wednesday. The company has a quick ratio of 1.92, a current ratio of 3.08 and a debt-to-equity ratio of 6.76. Neo Performance Materials has a 52 week low of C$5.50 and a 52 week high of C$9.50. 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. The company has a fifty day moving average of C$6.16 and a two-hundred day moving average of C$6.94.

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

Insider Activity at Neo Performance Materials

In other Neo Performance Materials news, Senior Officer Jonathan Baksh bought 13,575 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was acquired at an average cost of C$6.14 per share, for a total transaction of C$83,384.44. In related news, Senior Officer Jonathan Baksh bought 13,575 shares of Neo Performance Materials stock in a transaction dated 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. Also, Senior Officer Kevin Morris purchased 7,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were bought at an average cost of C$6.09 per share, with a total value of C$42,630.00. Insiders acquired a total of 81,175 shares of company stock worth $492,578 in the last quarter. 21.76% of the stock is owned by company insiders.

Neo Performance Materials Announces Dividend

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

Neo Performance Materials Company Profile

(Get Free Report)

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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