Equities analysts expect Neogen Corporation (NASDAQ:NEOG) to announce earnings per share (EPS) of $0.34 for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Neogen’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.35. Neogen reported earnings of $0.29 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.2%. The firm is scheduled to issue its next earnings report before the market opens on Wednesday, January 3rd.
According to Zacks, analysts expect that Neogen will report full-year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.27 to $1.35. For the next year, analysts expect that the business will post earnings of $1.45 per share, with EPS estimates ranging from $1.42 to $1.50. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Neogen.
Neogen (NASDAQ:NEOG) last released its earnings results on Tuesday, September 19th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. The firm had revenue of $95.30 million during the quarter, compared to analysts’ expectations of $94.87 million. Neogen had a return on equity of 9.93% and a net margin of 12.28%. The company’s revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS.
Several brokerages recently issued reports on NEOG. Zacks Investment Research upgraded shares of Neogen from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Wednesday, November 29th. BidaskClub downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Craig Hallum raised their target price on shares of Neogen from $62.00 to $80.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Roth Capital began coverage on shares of Neogen in a research note on Tuesday, December 5th. They issued a “neutral” rating and a $82.00 target price for the company. Five investment analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus target price of $85.00.
Shares of Neogen (NASDAQ:NEOG) traded down $1.65 during midday trading on Friday, hitting $81.08. The stock had a trading volume of 176,677 shares, compared to its average volume of 88,687. The company has a market cap of $3,097.42, a PE ratio of 68.13, a price-to-earnings-growth ratio of 4.12 and a beta of 1.54. Neogen has a 12 month low of $59.51 and a 12 month high of $85.89.
Neogen’s stock is going to split on the morning of Tuesday, January 2nd. The 4-3 split was announced on Friday, December 8th. The newly created shares will be payable to shareholders after the market closes on Friday, December 29th.
In other Neogen news, CFO Steven J. Quinlan sold 2,772 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $73.54, for a total transaction of $203,852.88. Following the completion of the sale, the chief financial officer now directly owns 12,875 shares in the company, valued at $946,827.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Edward Bradley sold 13,628 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $70.06, for a total transaction of $954,777.68. Following the sale, the vice president now owns 71,691 shares of the company’s stock, valued at $5,022,671.46. The disclosure for this sale can be found here. Insiders sold a total of 186,662 shares of company stock valued at $14,271,286 over the last quarter. 4.20% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Neogen during the second quarter worth approximately $154,000. Riverhead Capital Management LLC lifted its position in Neogen by 91.4% during the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock worth $159,000 after acquiring an additional 1,097 shares during the last quarter. Bell Bank acquired a new stake in Neogen during the third quarter worth approximately $201,000. Parametrica Management Ltd acquired a new stake in Neogen during the third quarter worth approximately $202,000. Finally, Victory Capital Management Inc. lifted its position in Neogen by 17.5% during the second quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock worth $207,000 after acquiring an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.
Neogen Company Profile
Neogen Corporation develops, manufactures and markets a range of products and services dedicated to food and animal safety. The Company operates through two segments: Food Safety and Animal Safety. The Food Safety segment produces and markets diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation.
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