Neo Performance Materials Inc. (TSE:NEO – Get Rating) – Research analysts at Raymond James decreased their Q2 2023 earnings per share (EPS) estimates for shares of Neo Performance Materials in a report issued on Monday, September 19th. Raymond James analyst F. Bastien now expects that the company will post earnings of $0.39 per share for the quarter, down from their previous estimate of $0.42. Raymond James currently 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.
Several other brokerages have also commented on NEO. Canaccord Genuity Group dropped their price target on shares of Neo Performance Materials from C$24.00 to C$18.00 in a research note on Tuesday. Scotiabank lowered their target price on shares of Neo Performance Materials from C$22.00 to C$21.00 in a research report on Monday, August 29th. Finally, Stifel Nicolaus reduced their price target on Neo Performance Materials from C$19.75 to C$17.00 in a research report on Monday.
Neo Performance Materials Price Performance
Neo Performance Materials Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Tuesday, September 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Monday, September 19th. Neo Performance Materials’s dividend payout ratio is currently 18.83%.
About Neo Performance Materials
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.
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