$0.31 EPS Expected for Neogen Co. (NEOG) This Quarter
Wall Street analysts forecast that Neogen Co. (NASDAQ:NEOG) will report $0.31 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have made estimates for Neogen’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.30. Neogen reported earnings per share of $0.33 in the same quarter last year, which would suggest a negative year over year growth rate of 6.1%. The firm is expected to report its next quarterly earnings results on Wednesday, January 2nd.
According to Zacks, analysts expect that Neogen will report full-year earnings of $1.24 per share for the current year, with EPS estimates ranging from $1.23 to $1.25. For the next financial year, analysts expect that the business will post earnings of $1.33 per share, with EPS estimates ranging from $1.28 to $1.37. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Neogen.
Neogen (NASDAQ:NEOG) last announced its quarterly earnings results on Tuesday, September 25th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Neogen had a return on equity of 12.06% and a net margin of 16.35%. The firm had revenue of $99.60 million for the quarter, compared to analysts’ expectations of $104.43 million. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s revenue was up 5.7% on a year-over-year basis.
Shares of NEOG traded up $1.77 during midday trading on Thursday, hitting $63.12. 202,900 shares of the company traded hands, compared to its average volume of 218,876. Neogen has a one year low of $54.09 and a one year high of $97.38. The stock has a market cap of $3.28 billion, a PE ratio of 52.17 and a beta of 1.40.
Neogen declared that its Board of Directors has approved a stock buyback program on Wednesday, October 10th that allows the company to buyback 3,000,000 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
In other Neogen news, CEO John Edward Adent acquired 4,300 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was bought at an average price of $73.58 per share, with a total value of $316,394.00. Following the completion of the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at $316,394. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Terri A. Morrical sold 7,200 shares of the business’s stock in a transaction dated Thursday, August 30th. The stock was sold at an average price of $89.05, for a total value of $641,160.00. Following the transaction, the vice president now directly owns 44,575 shares of the company’s stock, valued at approximately $3,969,403.75. The disclosure for this sale can be found here. Insiders have sold 34,800 shares of company stock valued at $3,106,728 in the last three months. 3.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of NEOG. Polen Capital Management LLC boosted its stake in Neogen by 12.1% in the second quarter. Polen Capital Management LLC now owns 6,460 shares of the company’s stock worth $518,000 after buying an additional 697 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in Neogen by 9.4% in the second quarter. Xact Kapitalforvaltning AB now owns 8,182 shares of the company’s stock worth $656,000 after buying an additional 700 shares in the last quarter. LPL Financial LLC boosted its stake in Neogen by 15.4% in the first quarter. LPL Financial LLC now owns 5,288 shares of the company’s stock worth $354,000 after buying an additional 705 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Neogen by 28.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,337 shares of the company’s stock worth $223,000 after buying an additional 747 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Neogen by 2.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 29,130 shares of the company’s stock worth $2,336,000 after buying an additional 776 shares in the last quarter. 89.49% of the stock is owned by institutional investors.
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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