Zacks: Analysts Expect Neogen Co. (NEOG) Will Post Earnings of $0.32 Per Share
Analysts forecast that Neogen Co. (NASDAQ:NEOG) will post earnings of $0.32 per share for the current quarter, according to Zacks. Two analysts have made estimates for Neogen’s earnings, with estimates ranging from $0.30 to $0.33. Neogen posted earnings per share of $0.26 during the same quarter last year, which would indicate a positive year over year growth rate of 23.1%. The company is expected to report its next quarterly earnings results on Tuesday, July 18th.
According to Zacks, analysts expect that Neogen will report full year earnings of $1.13 per share for the current fiscal year, with EPS estimates ranging from $1.12 to $1.15. For the next fiscal year, analysts expect that the firm will post earnings of $1.28 per share, with EPS estimates ranging from $1.25 to $1.30. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Neogen.
Neogen (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, March 21st. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. Neogen had a return on equity of 9.31% and a net margin of 11.74%. The business had revenue of $88.40 million during the quarter, compared to analyst estimates of $89.41 million. During the same period in the previous year, the firm earned $0.22 EPS. Neogen’s quarterly revenue was up 15.3% compared to the same quarter last year.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. BidaskClub raised Neogen from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th.
In other Neogen news, CEO James L. Herbert sold 8,107 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $62.01, for a total value of $502,715.07. Following the completion of the sale, the chief executive officer now owns 890,319 shares of the company’s stock, valued at $55,208,681.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven J. Quinlan sold 2,676 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $63.68, for a total value of $170,407.68. Following the completion of the sale, the chief financial officer now directly owns 12,779 shares of the company’s stock, valued at approximately $813,766.72. The disclosure for this sale can be found here. Insiders sold 85,270 shares of company stock valued at $5,243,885 in the last three months. Insiders own 4.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. 1st Global Advisors Inc. boosted its stake in shares of Neogen by 0.6% in the first quarter. 1st Global Advisors Inc. now owns 9,822 shares of the company’s stock worth $644,000 after buying an additional 54 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Neogen by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 4,210 shares of the company’s stock worth $275,000 after buying an additional 140 shares during the period. Bell Bank boosted its stake in shares of Neogen by 4.2% in the first quarter. Bell Bank now owns 5,031 shares of the company’s stock worth $330,000 after buying an additional 205 shares during the period. Sei Investments Co. boosted its stake in shares of Neogen by 4.5% in the first quarter. Sei Investments Co. now owns 6,378 shares of the company’s stock worth $418,000 after buying an additional 275 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Neogen by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 15,500 shares of the company’s stock worth $1,016,000 after buying an additional 300 shares during the period. 86.73% of the stock is owned by hedge funds and other institutional investors.
Neogen (NEOG) traded up 0.34% during trading on Wednesday, reaching $68.13. The company’s stock had a trading volume of 193,885 shares. The stock has a market cap of $2.60 billion, a PE ratio of 63.08 and a beta of 1.61. The company’s 50-day moving average is $63.63 and its 200-day moving average is $64.35. Neogen has a 12 month low of $50.35 and a 12 month high of $69.09.
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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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