Cormark Equities Analysts Cut Earnings Estimates for Neo Performance Materials Inc. (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEO - Free Report) - Equities research analysts at Cormark cut their FY2024 EPS estimates for Neo Performance Materials in a note issued to investors on Monday, May 13th. Cormark analyst D. Ocampo now anticipates that the company will post earnings per share of $0.38 for the year, down from their previous estimate 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 - Get Free Report) last posted its quarterly earnings data on Friday, March 15th. The company reported C$0.03 earnings per share for the quarter, missing the consensus estimate of C$0.15 by C($0.12). The business 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%.

Several other analysts have also issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Neo Performance Materials from C$9.00 to C$7.50 and set a "hold" rating on the stock in a research report on Monday, March 18th. Raymond James cut their price target on shares of Neo Performance Materials from C$13.00 to C$11.00 and set an "outperform" rating on the stock in a research report on Monday, March 18th.

Neo Performance Materials Stock Performance

Shares of NEO traded up C$0.23 during mid-day trading on Thursday, hitting C$6.87. The company's stock had a trading volume of 80,740 shares, compared to its average volume of 79,813. The stock's 50-day moving average is C$6.15 and its two-hundred day moving average is C$6.93. The firm has a market capitalization of C$286.55 million, a PE ratio of -25.96 and a beta of 1.43. 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 one year low of C$5.50 and a one year high of C$9.50.

Neo Performance Materials Announces Dividend

The business 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 dividend of $0.10 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.40 annualized dividend and a yield of 5.82%. Neo Performance Materials's dividend payout ratio (DPR) is currently -153.85%.

Insider Buying and Selling at Neo Performance Materials

In other Neo Performance Materials news, Director Rahim Suleman acquired 60,000 shares of Neo Performance Materials stock in a transaction dated Tuesday, March 19th. The stock was bought at an average cost of C$6.05 per share, for a total transaction of C$363,000.00. In other Neo Performance Materials news, Senior Officer Kevin Morris bought 7,000 shares of Neo Performance Materials stock in a transaction on Monday, March 25th. The shares were purchased at an average cost of C$6.09 per share, with a total value of C$42,630.00. Also, Director Rahim Suleman purchased 60,000 shares of the company's stock in a transaction dated Tuesday, March 19th. The stock was purchased at an average price of C$6.05 per share, for a total transaction of C$363,000.00. Over the last quarter, insiders have purchased 81,175 shares of company stock valued at $492,578. 21.76% of the stock is currently owned by corporate insiders.

About Neo Performance Materials

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.