Neogen Corporation (NEOG) Expected to Announce Quarterly Sales of $95.09 Million
Brokerages forecast that Neogen Corporation (NASDAQ:NEOG) will announce $95.09 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Neogen Corporation’s earnings, with estimates ranging from $93.90 million to $96.27 million. Neogen Corporation posted sales of $83.65 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.7%. The business is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, September 19th.
On average, analysts expect that Neogen Corporation will report full-year sales of $95.09 million for the current fiscal year, with estimates ranging from $398.55 million to $405.00 million. For the next financial year, analysts forecast that the firm will post sales of $442.84 million per share, with estimates ranging from $435.60 million to $455.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Neogen Corporation.
Neogen Corporation (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. The business had revenue of $98.80 million for the quarter, compared to analyst estimates of $100.80 million. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.26 EPS.
A number of brokerages recently weighed in on NEOG. Zacks Investment Research cut Neogen Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. BidaskClub cut Neogen Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Finally, CL King began coverage on Neogen Corporation in a research note on Friday, July 14th. They set a “neutral” rating on the stock.
In other Neogen Corporation news, Director Ronald D. Green sold 4,333 shares of Neogen Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $68.49, for a total transaction of $296,767.17. Following the transaction, the director now owns 3,333 shares of the company’s stock, valued at approximately $228,277.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Edward Bradley sold 6,372 shares of Neogen Corporation stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $70.05, for a total value of $446,358.60. Following the transaction, the vice president now directly owns 75,156 shares in the company, valued at approximately $5,264,677.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,705 shares of company stock worth $1,693,096. Company insiders own 4.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Brown Capital Management LLC grew its stake in Neogen Corporation by 0.3% during the 1st quarter. Brown Capital Management LLC now owns 5,385,695 shares of the company’s stock valued at $353,032,000 after acquiring an additional 17,148 shares in the last quarter. BlackRock Inc. grew its stake in Neogen Corporation by 149,314.6% during the 1st quarter. BlackRock Inc. now owns 4,466,002 shares of the company’s stock valued at $292,745,000 after acquiring an additional 4,463,013 shares in the last quarter. Vanguard Group Inc. grew its stake in Neogen Corporation by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 3,319,437 shares of the company’s stock valued at $229,406,000 after acquiring an additional 61,968 shares in the last quarter. State Street Corp grew its stake in Neogen Corporation by 4.8% during the 2nd quarter. State Street Corp now owns 949,434 shares of the company’s stock valued at $65,613,000 after acquiring an additional 43,496 shares in the last quarter. Finally, Conestoga Capital Advisors LLC grew its stake in Neogen Corporation by 7.2% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 797,614 shares of the company’s stock valued at $55,123,000 after acquiring an additional 53,551 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.
Neogen Corporation (NASDAQ NEOG) opened at 69.71 on Friday. Neogen Corporation has a one year low of $50.53 and a one year high of $70.46. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 61.15 and a beta of 1.51. The stock’s 50 day moving average is $66.81 and its 200 day moving average is $65.27.
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Neogen Corporation 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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