Neo Performance Materials (TSE:NEO) Sets New 1-Year High After Dividend Announcement

Neo Performance Materials Inc. (TSE:NEO) shares reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The stock traded as high as C$37.46 and last traded at C$36.47, with a volume of 44839 shares changing hands. The stock had previously closed at C$35.08.

The newly announced dividend which will be paid on Monday, June 29th. Shareholders of record on Monday, June 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, June 19th. This represents a $0.40 annualized dividend and a yield of 1.1%. Neo Performance Materials’s dividend payout ratio (DPR) is presently -120.72%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NEO. Stifel Nicolaus upped their price target 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 increased their price objective on shares of Neo Performance Materials from C$30.00 to C$38.00 in a report on Thursday, May 14th. Three 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 a consensus price target of C$38.00.

Neo Performance Materials Stock Up 3.7%

The company has a debt-to-equity ratio of 41.75, a quick ratio of 1.92 and a current ratio of 1.76. The stock’s fifty day simple moving average is C$29.42 and its two-hundred day simple moving average is C$23.51. The company has a market capitalization of C$1.67 billion, a price-to-earnings ratio of -151.62 and a beta of 1.45.

Neo Performance Materials (TSE:NEO) last announced its quarterly earnings data on Tuesday, May 12th. The company reported C$0.47 earnings per share (EPS) for the quarter. Neo Performance Materials had a negative net margin of 2.03% and a negative return on equity of 2.63%. The company had revenue of C$215.44 million for the quarter. On average, sell-side analysts anticipate that Neo Performance Materials Inc. will post 0.6753356 EPS for the current year.

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.