Q2 2024 EPS Estimates for Neo Performance Materials Inc. (TSE:NEO) Cut by Cormark

Neo Performance Materials Inc. (TSE:NEO - Free Report) - Equities research analysts at Cormark decreased their Q2 2024 EPS estimates for shares of Neo Performance Materials in a research note issued on Monday, May 13th. Cormark analyst D. Ocampo now forecasts that the company will post earnings per share of $0.07 for the quarter, down from their prior forecast 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.

A number of other equities research analysts have also recently issued reports on NEO. Raymond James decreased their target price on Neo Performance Materials from C$13.00 to C$11.00 and set an "outperform" rating for the company in a research report on Monday, March 18th. Stifel Nicolaus decreased their price objective 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.

Neo Performance Materials Stock Up 8.1 %

Shares of TSE:NEO traded up C$0.50 on Wednesday, reaching C$6.64. The company had a trading volume of 100,530 shares, compared to its average volume of 79,803. The company has a quick ratio of 1.92, a current ratio of 3.08 and a debt-to-equity ratio of 6.76. The stock has a market capitalization of C$276.95 million, a P/E ratio of -25.54 and a beta of 1.43. The stock has a 50-day moving average price of C$6.16 and a 200 day moving average price of C$6.94. Neo Performance Materials has a twelve month low of C$5.50 and a twelve month high of C$9.50.

Neo Performance Materials (TSE:NEO - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of C$175.19 million during 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%.

Neo Performance Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders 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 yield of 6.02%. The ex-dividend date is Tuesday, June 18th. Neo Performance Materials's dividend payout ratio (DPR) is currently -153.85%.

Insiders Place Their Bets

In related news, Director Rahim Suleman acquired 60,000 shares of the stock in a transaction dated Tuesday, March 19th. The shares were acquired at an average price of C$6.05 per share, for a total transaction of C$363,000.00. In other news, Director Rahim Suleman purchased 60,000 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were purchased at an average cost of C$6.05 per share, for a total transaction of C$363,000.00. Also, Senior Officer Kevin Morris acquired 7,000 shares of the stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of C$6.09 per share, for a total transaction of C$42,630.00. Insiders have acquired a total of 81,175 shares of company stock valued at $492,578 in the last three months. Company insiders own 21.76% of the company's stock.

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.