Zacks: Analysts Expect Neogen Co. (NASDAQ:NEOG) Will Announce Earnings of $0.32 Per Share

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Equities analysts expect Neogen Co. (NASDAQ:NEOG) to post earnings per share (EPS) of $0.32 for the current quarter, according to Zacks. Three analysts have provided estimates for Neogen’s earnings. Neogen reported earnings per share of $0.31 in the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The company is scheduled to issue its next earnings report on Thursday, December 19th.

According to Zacks, analysts expect that Neogen will report full year earnings of $1.20 per share for the current year. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.35 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Neogen.

Neogen (NASDAQ:NEOG) last posted its earnings results on Tuesday, September 24th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Neogen had a return on equity of 9.46% and a net margin of 14.32%. The company had revenue of $101.42 million during the quarter, compared to the consensus estimate of $105.16 million. During the same period last year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis.

A number of equities research analysts have commented on the stock. Zacks Investment Research raised shares of Neogen from a “sell” rating to a “hold” rating and set a $71.00 target price for the company in a research report on Wednesday, November 27th. ValuEngine downgraded shares of Neogen from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, BidaskClub downgraded shares of Neogen from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Neogen presently has an average rating of “Hold” and a consensus target price of $74.50.

NASDAQ:NEOG traded down $0.12 during trading hours on Monday, reaching $66.45. The company had a trading volume of 100,888 shares, compared to its average volume of 205,471. Neogen has a 52 week low of $50.60 and a 52 week high of $79.83. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 57.78, a PEG ratio of 5.48 and a beta of 1.37. The firm’s 50 day moving average price is $65.31 and its 200-day moving average price is $65.46.

In other news, VP Terri A. Morrical sold 7,601 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $65.45, for a total transaction of $497,485.45. Following the completion of the sale, the vice president now owns 45,176 shares of the company’s stock, valued at approximately $2,956,769.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jason Warren Lilly sold 2,500 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $64.61, for a total transaction of $161,525.00. Following the sale, the vice president now directly owns 12,901 shares of the company’s stock, valued at approximately $833,533.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,349 shares of company stock valued at $12,760,416. Insiders own 1.70% of the company’s stock.

Several hedge funds have recently modified their holdings of NEOG. Steward Partners Investment Advisory LLC bought a new stake in shares of Neogen during the 2nd quarter valued at $25,000. Executive Wealth Management LLC boosted its holdings in Neogen by 124.2% in the 3rd quarter. Executive Wealth Management LLC now owns 509 shares of the company’s stock worth $34,000 after buying an additional 282 shares during the period. Gradient Investments LLC bought a new position in Neogen in the 3rd quarter worth $46,000. Point72 Asset Management L.P. bought a new position in Neogen in the 3rd quarter worth $68,000. Finally, Captrust Financial Advisors boosted its holdings in Neogen by 20.0% in the 2nd quarter. Captrust Financial Advisors now owns 1,135 shares of the company’s stock worth $70,000 after buying an additional 189 shares during the period. 92.37% of the stock is owned by hedge funds and other institutional investors.

About Neogen

Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.

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