Neo Performance Materials Inc. (TSE:NEO) to Post Q1 2024 Earnings of $0.18 Per Share, Cormark Forecasts

Neo Performance Materials Inc. (TSE:NEO – Get Rating) – Stock analysts at Cormark lowered their Q1 2024 earnings per share estimates for shares of Neo Performance Materials in a report issued on Monday, May 15th. Cormark analyst D. Ocampo now expects that the company will earn $0.18 per share for the quarter, down from their previous forecast of $0.29. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.85 per share. Cormark also issued estimates for Neo Performance Materials’ Q2 2024 earnings at $0.20 EPS, Q3 2024 earnings at $0.20 EPS and Q4 2024 earnings at $0.20 EPS.

Neo Performance Materials (TSE:NEO – Get Rating) last released its earnings results on Wednesday, March 29th. The company reported C($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.12 by C($0.30). Neo Performance Materials had a net margin of 4.05% and a return on equity of 5.82%. The firm had revenue of C$216.11 million during the quarter, compared to analyst estimates of C$179.26 million.

Several other brokerages also recently weighed in on NEO. Canaccord Genuity Group cut their price target on Neo Performance Materials from C$15.00 to C$13.00 in a research report on Thursday, March 30th. Raymond James cut their price target on Neo Performance Materials from C$17.00 to C$14.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus cut their price target on Neo Performance Materials from C$15.00 to C$13.00 in a research report on Wednesday, April 19th.

Neo Performance Materials Price Performance

Shares of NEO opened at C$8.20 on Wednesday. The business’s 50-day moving average is C$8.97 and its two-hundred day moving average is C$9.82. The company has a market capitalization of C$370.64 million, a P/E ratio of 10.00 and a beta of 1.31. The company has a debt-to-equity ratio of 10.47, a quick ratio of 1.92 and a current ratio of 3.63. Neo Performance Materials has a fifty-two week low of C$7.17 and a fifty-two week high of C$17.20.

Neo Performance Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 29th. Investors of record on Monday, March 20th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Friday, March 17th. Neo Performance Materials’s dividend payout ratio is presently 48.78%.

About Neo Performance Materials

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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.