Neo Performance Materials (TSE:NEO) Announces Earnings Results

Neo Performance Materials (TSE:NEO) announced its quarterly earnings data on Tuesday. The company reported C$0.73 EPS for the quarter, reports. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. The business had revenue of C$292.32 million during the quarter.

Neo Performance Materials Trading Up 5.7%

NEO opened at C$44.33 on Tuesday. Neo Performance Materials has a 52 week low of C$15.31 and a 52 week high of C$44.96. The company has a quick ratio of 1.92, a current ratio of 1.76 and a debt-to-equity ratio of 41.75. The business has a fifty day simple moving average of C$36.54 and a 200-day simple moving average of C$28.81. The firm has a market cap of C$2.04 billion, a P/E ratio of -184.71 and a beta of 1.44.

Neo Performance Materials Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, June 19th. Neo Performance Materials’s dividend payout ratio (DPR) is currently -120.72%.

Analysts Set New Price Targets

Several research firms have recently weighed in on NEO. BMO Capital Markets raised their target price on Neo Performance Materials from C$43.00 to C$60.00 in a research report on Monday, July 13th. Stifel Nicolaus lifted their target price on shares of Neo Performance Materials from C$26.00 to C$38.00 in a research note on Wednesday, May 13th. Finally, ATB Cormark Capital Markets increased their price target on shares of Neo Performance Materials from C$43.00 to C$53.50 and gave the company an “outperform” rating in a research note on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$50.50.

About Neo Performance Materials

Neo manufactures the building blocks of many modern technologies that enhance efficiency and sustainability. Neo’s advanced industrial materials – magnetic powders, rare earth magnets, magnetic assemblies, specialty chemicals, metals, and alloys – are critical to the performance of many everyday products and emerging technologies. Neo’s products fast-forward technologies for the net-zero transition. The business of Neo is organized along three segments: Magnequench, Chemicals & Oxides and Rare Metals.