FY2023 Earnings Estimate for Neo Performance Materials Inc. Issued By Raymond James (TSE:NEO)

Neo Performance Materials Inc. (TSE:NEO) – Research analysts at Raymond James cut their FY2023 earnings per share estimates for shares of Neo Performance Materials in a research note issued on Tuesday, November 14th. Raymond James analyst F. Bastien now expects that the company will post earnings per share of $0.10 for the year, down from their prior estimate of $0.13. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.63 per share. Raymond James also issued estimates for Neo Performance Materials’ Q4 2023 earnings at $0.17 EPS, Q1 2024 earnings at $0.12 EPS, Q2 2024 earnings at $0.15 EPS, Q3 2024 earnings at $0.22 EPS and FY2024 earnings at $0.76 EPS.

A number of other analysts have also issued reports on the company. Stifel Nicolaus lowered their target price on Neo Performance Materials from C$9.50 to C$9.00 and set a “hold” rating on the stock in a report on Tuesday. Canaccord Genuity Group lowered their target price on Neo Performance Materials from C$13.00 to C$11.00 and set a “buy” rating on the stock in a report on Tuesday.

Neo Performance Materials Stock Performance

NEO opened at C$6.79 on Thursday. The firm has a market capitalization of C$288.03 million, a P/E ratio of -14.15 and a beta of 1.40. The stock’s 50 day moving average price is C$7.57 and its two-hundred day moving average price is C$8.22. The company has a quick ratio of 1.92, a current ratio of 3.33 and a debt-to-equity ratio of 6.88. Neo Performance Materials has a 12-month low of C$6.70 and a 12-month high of C$12.15.

Neo Performance Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 18th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Friday, December 15th. Neo Performance Materials’s payout ratio is presently -83.33%.

Insider Transactions at Neo Performance Materials

In related news, Senior Officer Jonathan Baksh purchased 10,825 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of C$6.91 per share, with a total value of C$74,807.25. In related news, Senior Officer Jonathan Baksh purchased 10,825 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of C$6.91 per share, with a total value of C$74,807.25. Also, Director Rahim Suleman purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was bought at an average cost of C$6.89 per share, for a total transaction of C$103,350.00. 20.04% of the stock is owned by 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.