Neogen Co. (NASDAQ:NEOG) Expected to Announce Earnings of $0.28 Per Share

Analysts expect Neogen Co. (NASDAQ:NEOG) to announce earnings of $0.28 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Neogen’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.30. Neogen posted earnings of $0.33 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 15.2%. The business is scheduled to report its next earnings results on Tuesday, July 16th.

According to Zacks, analysts expect that Neogen will report full year earnings of $1.12 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.14. For the next financial year, analysts forecast that the firm will report earnings of $1.22 per share, with EPS estimates ranging from $1.20 to $1.23. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Neogen.

Neogen (NASDAQ:NEOG) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $0.25 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). Neogen had a net margin of 14.96% and a return on equity of 10.48%. The firm had revenue of $97.70 million during the quarter, compared to analysts’ expectations of $102.55 million. During the same period in the prior year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.

A number of equities research analysts have commented on NEOG shares. Craig Hallum raised shares of Neogen from a “hold” rating to a “buy” rating and set a $62.76 price objective on the stock in a research report on Tuesday, March 19th. BidaskClub upgraded shares of Neogen from a “sell” rating to a “hold” rating in a report on Tuesday, April 30th. Zacks Investment Research upgraded shares of Neogen from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a report on Monday, June 3rd. Finally, Guggenheim initiated coverage on shares of Neogen in a report on Thursday, May 23rd. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.38.

Shares of NASDAQ:NEOG traded up $1.84 during trading hours on Monday, reaching $58.55. The stock had a trading volume of 288,719 shares, compared to its average volume of 207,111. Neogen has a 1 year low of $50.60 and a 1 year high of $97.38. The company has a market cap of $2.96 billion, a PE ratio of 48.39, a P/E/G ratio of 4.65 and a beta of 1.34.

In other news, Director James L. Herbert sold 41,000 shares of the company’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $56.09, for a total value of $2,299,690.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jack C. Parnell sold 5,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $60.26, for a total transaction of $301,300.00. Following the completion of the transaction, the director now owns 14,439 shares of the company’s stock, valued at approximately $870,094.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 103,385 shares of company stock valued at $6,027,055. Company insiders own 3.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Meridian Wealth Management LLC acquired a new stake in Neogen during the 1st quarter worth $252,000. Marshall Wace North America L.P. boosted its stake in Neogen by 89.6% during the 1st quarter. Marshall Wace North America L.P. now owns 22,638 shares of the company’s stock worth $1,299,000 after purchasing an additional 10,701 shares during the period. Marshall Wace LLP boosted its stake in Neogen by 153.4% during the 1st quarter. Marshall Wace LLP now owns 179,967 shares of the company’s stock worth $10,329,000 after purchasing an additional 108,936 shares during the period. Rehmann Capital Advisory Group boosted its stake in Neogen by 8.6% during the 1st quarter. Rehmann Capital Advisory Group now owns 4,976 shares of the company’s stock worth $286,000 after purchasing an additional 392 shares during the period. Finally, RMB Capital Management LLC boosted its stake in Neogen by 79.5% during the 1st quarter. RMB Capital Management LLC now owns 56,549 shares of the company’s stock worth $3,245,000 after purchasing an additional 25,051 shares during the period. Institutional investors and hedge funds own 90.13% of the company’s stock.

Neogen Company Profile

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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Earnings History and Estimates for Neogen (NASDAQ:NEOG)

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