Neo Performance Materials (TSE:NEO) Price Target Cut to C$25.00

Neo Performance Materials (TSE:NEO – Get Rating) had its target price decreased by Scotiabank from C$27.00 to C$25.00 in a report published on Monday morning, BayStreet.CA reports.

NEO has been the topic of several other reports. Raymond James dropped their price objective on Neo Performance Materials from C$27.00 to C$25.00 and set an outperform rating on the stock in a research report on Monday, March 14th. Cormark set a C$25.00 target price on Neo Performance Materials in a research report on Monday.

Shares of TSE:NEO opened at C$13.05 on Monday. The company has a debt-to-equity ratio of 2.20, a current ratio of 2.88 and a quick ratio of 1.19. Neo Performance Materials has a 1-year low of C$10.48 and a 1-year high of C$22.85. The company has a market capitalization of C$530.73 million and a PE ratio of 11.02. The business has a fifty day moving average price of C$14.34 and a 200-day moving average price of C$17.15.

Neo Performance Materials (TSE:NEO – Get Rating) last released its quarterly earnings data on Friday, May 13th. The company reported C$0.71 EPS for the quarter, beating the consensus estimate of C$0.40 by C$0.31. The business had revenue of C$210.63 million for the quarter, compared to analysts’ expectations of C$212.81 million. On average, sell-side analysts anticipate that Neo Performance Materials will post 1.4999999 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 28th. Stockholders of record on Monday, June 20th will be given a dividend of $0.10 per share. The ex-dividend date is Friday, June 17th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.07%. Neo Performance Materials’s payout ratio is currently 26.75%.

About Neo Performance Materials (Get Rating)

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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