Q3 2022 Earnings Forecast for Neo Performance Materials Inc. Issued By Raymond James (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEOGet Rating) – Raymond James reduced their Q3 2022 earnings per share estimates for Neo Performance Materials in a research note issued on Monday, September 19th. Raymond James analyst F. Bastien now expects that the company will post earnings per share of $0.26 for the quarter, down from their prior forecast of $0.28. Raymond James has a “Outperform” rating and a $23.00 price target on the stock. The consensus estimate for Neo Performance Materials’ current full-year earnings is $1.60 per share. Raymond James also issued estimates for Neo Performance Materials’ Q4 2022 earnings at $0.28 EPS, FY2022 earnings at $1.74 EPS, Q1 2023 earnings at $0.37 EPS, Q3 2023 earnings at $0.43 EPS, Q4 2023 earnings at $0.46 EPS and FY2023 earnings at $1.65 EPS.

NEO has been the subject of several other reports. Stifel Nicolaus reduced their price target on Neo Performance Materials from C$19.75 to C$17.00 in a report on Monday. Scotiabank reduced their price target on Neo Performance Materials from C$22.00 to C$21.00 in a report on Monday, August 29th. Finally, Canaccord Genuity Group reduced their price target on Neo Performance Materials from C$24.00 to C$18.00 in a report on Tuesday.

Neo Performance Materials Price Performance

NEO opened at C$11.97 on Tuesday. The stock has a fifty day simple moving average of C$13.54 and a two-hundred day simple moving average of C$13.64. The company has a current ratio of 3.67, a quick ratio of 1.44 and a debt-to-equity ratio of 4.18. The company has a market cap of C$540.91 million and a price-to-earnings ratio of 7.17. Neo Performance Materials has a 12-month low of C$10.48 and a 12-month high of C$22.85.

Insider Transactions at Neo Performance Materials

In other Neo Performance Materials news, Senior Officer Rahim Suleman bought 9,200 shares of Neo Performance Materials stock in a transaction on Thursday, June 23rd. The stock was acquired at an average cost of C$11.25 per share, with a total value of C$103,500.00. Following the completion of the acquisition, the insider now owns 122,256 shares in the company, valued at C$1,375,380.

Neo Performance Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Tuesday, September 20th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Monday, September 19th. Neo Performance Materials’s payout ratio is currently 18.83%.

Neo Performance Materials Company Profile

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Neo Performance Materials Inc manufactures and sells 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.

See Also

Earnings History and Estimates for Neo Performance Materials (TSE:NEO)

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