FY2024 Earnings Estimate for Neo Performance Materials Inc. Issued By Cormark (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEO) – Research analysts at Cormark cut their FY2024 earnings per share (EPS) estimates for shares of Neo Performance Materials in a research report issued on Monday, May 13th. Cormark analyst D. Ocampo now forecasts that the company will post earnings of $0.38 per share for the year, down from their previous forecast of $0.61. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.53 per share. Cormark also issued estimates for Neo Performance Materials’ FY2025 earnings at $0.93 EPS.

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

A number of other equities research analysts have also recently issued reports on the company. Stifel Nicolaus dropped their price objective on Neo Performance Materials from C$9.00 to C$7.50 and set a “hold” rating on the stock in a research note on Monday, March 18th. Raymond James dropped their price objective on Neo Performance Materials from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research note on Monday, March 18th.

Neo Performance Materials Trading Up 3.5 %

TSE NEO opened at C$6.87 on Thursday. The stock has a market capitalization of C$286.55 million, a price-to-earnings ratio of -26.42 and a beta of 1.43. The stock’s 50 day moving average price is C$6.15 and its two-hundred day moving average price is C$6.93. The company has a debt-to-equity ratio of 6.76, a quick ratio of 1.92 and a current ratio of 3.08. Neo Performance Materials has a 52 week low of C$5.50 and a 52 week high of C$9.50.

Insider Buying and Selling

In other Neo Performance Materials news, Senior Officer Jonathan Baksh bought 13,575 shares of the firm’s stock in a transaction that occurred 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. In other Neo Performance Materials news, Director Rahim Suleman bought 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average cost 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 firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were acquired at an average cost of C$6.14 per share, for a total transaction of C$83,384.44. In the last three months, insiders have acquired 81,175 shares of company stock valued at $492,578. 21.76% of the stock is owned by insiders.

Neo Performance Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Tuesday, June 18th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend is Tuesday, June 18th. Neo Performance Materials’s payout ratio is presently -153.85%.

Neo Performance Materials Company Profile

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.