Shares of Neo Performance Materials Inc. (TSE:NEO – Get Free Report) rose 10.1% during trading on Thursday . The stock traded as high as C$43.03 and last traded at C$41.70. Approximately 430,081 shares were traded during mid-day trading, an increase of 51% from the average session volume of 284,188 shares. The stock had previously closed at C$37.89.
Wall Street Analysts Forecast Growth
NEO has been the topic of a number of research analyst reports. Stifel Nicolaus boosted 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. BMO Capital Markets raised their price target on shares of Neo Performance Materials from C$30.00 to C$38.00 in a research note on Thursday, May 14th. Finally, ATB Cormark Capital Markets lifted their price target on shares of Neo Performance Materials from C$43.00 to C$53.50 and gave the stock an “outperform” rating in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$43.17.
Neo Performance Materials Price Performance
Neo Performance Materials (TSE:NEO – Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. The business had revenue of C$215.44 million for the quarter. Neo Performance Materials had a negative return on equity of 2.63% and a negative net margin of 2.03%. On average, analysts predict that Neo Performance Materials Inc. will post 0.6753356 EPS for the current fiscal year.
Neo Performance Materials Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 29th were given a $0.10 dividend. The ex-dividend date of this dividend was Friday, June 19th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Neo Performance Materials’s payout ratio is -120.72%.
Neo Performance Materials Company Profile
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.
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