Stifel Canada Has Bullish Forecast for TSE:NEO Q3 Earnings

Neo Performance Materials Inc. (TSE:NEO) – Stifel Canada increased their Q3 2024 earnings per share estimates for Neo Performance Materials in a research note issued to investors on Wednesday, October 16th. Stifel Canada analyst I. Gillies now anticipates that the company will post earnings per share of $0.16 for the quarter, up from their prior forecast of $0.12. The consensus estimate for Neo Performance Materials’ current full-year earnings is $0.68 per share. Stifel Canada also issued estimates for Neo Performance Materials’ FY2024 earnings at $0.56 EPS and FY2025 earnings at $0.86 EPS.

Neo Performance Materials (TSE:NEO) last issued its quarterly earnings data on Friday, August 9th. The company reported C$0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.05 by C$0.11. The firm had revenue of C$147.15 million for the quarter, compared to the consensus estimate of C$169.30 million. Neo Performance Materials had a net margin of 0.69% and a return on equity of 0.85%.

NEO has been the topic of several other reports. Canaccord Genuity Group boosted their target price on Neo Performance Materials from C$11.00 to C$12.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Cormark upped their price objective on shares of Neo Performance Materials from C$12.00 to C$12.50 in a report on Wednesday, August 21st. Finally, Stifel Nicolaus boosted their target price on shares of Neo Performance Materials from C$14.50 to C$15.00 and gave the stock a “buy” rating in a research report on Thursday.

Neo Performance Materials Price Performance

TSE NEO opened at C$8.07 on Friday. Neo Performance Materials has a 12-month low of C$5.50 and a 12-month high of C$8.69. The firm’s fifty day simple moving average is C$7.90 and its two-hundred day simple moving average is C$7.36. The company has a current ratio of 3.31, a quick ratio of 1.92 and a debt-to-equity ratio of 13.02. The firm has a market capitalization of C$336.92 million, a P/E ratio of 89.67 and a beta of 1.38.

Neo Performance Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 27th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.96%. The ex-dividend date was Tuesday, September 17th. Neo Performance Materials’s dividend payout ratio is presently 444.44%.

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.