Neo Performance Materials (OTCMKTS:NOPMF) Raised to Strong-Buy at Jefferies Financial Group

Key Points

• Jefferies upgraded Neo Performance Materials to “strong buy,” while the broader analyst consensus remains “buy.” Other coverage includes two buy ratings, one hold rating, and BMO Capital Markets’ “outperform” rating.
• Neo Performance Materials reported quarterly EPS of $0.51, narrowly exceeding estimates, while revenue of $205.75 million significantly surpassed the $169.14 million consensus forecast.
• The stock opened at $22.94, with a market capitalization of approximately $1.05 billion and a 52-week trading range of $11.10 to $34.99.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) was upgraded by research analysts at Jefferies Financial Group to a "strong-buy" rating in a report released on Friday, Zacks reports.

NOPMF has been the subject of a number of other reports. BMO Capital Markets reiterated an "outperform" rating on shares of Neo Performance Materials in a research note on Monday, July 13th. B. Riley Financial began coverage on shares of Neo Performance Materials in a research note on Wednesday, September 2nd. They set a "buy" rating on the stock. Finally, Zacks Research downgraded shares of Neo Performance Materials from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Neo Performance Materials Price Performance

Shares of Neo Performance Materials stock opened at $22.94 on Friday. Neo Performance Materials has a one year low of $11.10 and a one year high of $34.99. The stock's fifty day moving average is $24.57 and its 200 day moving average is $22.45. The stock has a market cap of $1.05 billion and a P/E ratio of -2,294.00. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.00 and a current ratio of 2.06.

Neo Performance Materials (OTCMKTS:NOPMF - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.01. The business had revenue of $205.75 million during the quarter, compared to analyst estimates of $169.14 million. Neo Performance Materials had a return on equity of 11.52% and a net margin of 0.26%.During the same quarter in the previous year, the company posted $0.13 earnings per share. Sell-side analysts anticipate that Neo Performance Materials will post 1.4 earnings per share for the current year.

About Neo Performance Materials

Neo Performance Materials Inc is a Canadian advanced materials company that produces specialty materials used in automotive, electronics, clean energy, healthcare, aerospace and industrial applications. Its operations are organized into three business units: Magnequench, Neo Chemicals & Oxides, and Neo Rare Metals.

Magnequench manufactures rare-earth magnetic powders and bonded permanent magnets, including materials used in motors, sensors and other compact electronic components. Neo Chemicals & Oxides produces rare-earth compounds, oxides and related materials, while Neo Rare Metals supplies high-purity specialty metals and compounds, including materials used in electronics, advanced manufacturing and other technology applications.

Neo Performance Materials serves customers internationally through manufacturing, processing and research operations in North America, Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.