Brokers Issue Forecasts for Neogen Corp.’s FY2018 Earnings (NEOG)
Neogen Corp. (NASDAQ:NEOG) – Equities research analysts at William Blair decreased their FY2018 earnings per share (EPS) estimates for Neogen Corp. in a research report issued to clients and investors on Wednesday. William Blair analyst B. Weinstein now forecasts that the firm will post earnings per share of $1.32 for the year, down from their previous forecast of $1.35.
Neogen Corp. (NASDAQ:NEOG) last posted its earnings results on Tuesday, September 27th. The company reported $0.26 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.26. The business had revenue of $83.65 million for the quarter. Neogen Corp. had a net margin of 11.25% and a return on equity of 9.36%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS.
A number of other research analysts also recently weighed in on NEOG. Zacks Investment Research raised shares of Neogen Corp. from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday. Craig Hallum upgraded shares of Neogen Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Neogen Corp. presently has an average rating of “Hold” and an average target price of $58.25.
Neogen Corp. (NASDAQ:NEOG) traded up 3.69% during mid-day trading on Thursday, reaching $55.94. 211,414 shares of the company were exchanged. The company’s 50 day moving average price is $57.76 and its 200-day moving average price is $53.03. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 57.08 and a beta of 1.28. Neogen Corp. has a 12-month low of $43.79 and a 12-month high of $61.24.
In other news, COO Richard E. Calk, Jr. sold 5,425 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $57.47, for a total transaction of $311,774.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Edward Bradley sold 20,196 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $55.60, for a total transaction of $1,122,897.60. Following the sale, the vice president now owns 126,730 shares of the company’s stock, valued at approximately $7,046,188. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of NEOG. Mason Street Advisors LLC bought a new stake in Neogen Corp. during the second quarter worth about $413,000. Schwab Charles Investment Management Inc. boosted its stake in Neogen Corp. by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 132,039 shares of the company’s stock worth $7,428,000 after buying an additional 2,334 shares in the last quarter. Amalgamated Bank bought a new stake in Neogen Corp. during the second quarter worth about $243,000. FDx Advisors Inc. boosted its stake in Neogen Corp. by 6.4% in the second quarter. FDx Advisors Inc. now owns 5,188 shares of the company’s stock worth $292,000 after buying an additional 313 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Neogen Corp. by 1.0% in the second quarter. Arizona State Retirement System now owns 19,441 shares of the company’s stock worth $1,094,000 after buying an additional 200 shares in the last quarter. Institutional investors own 86.79% of the company’s stock.
Neogen Corp. Company Profile
Neogen Corporation develops, manufactures and markets a diverse line of products dedicated to food and animal safety. The Company has two segments: Food Safety and Animal Safety. The Food Safety segment is engaged in the development, production and marketing of 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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