Neogen Corporation (NEOG) Expected to Announce Earnings of $0.34 Per Share

Wall Street analysts expect that Neogen Corporation (NASDAQ:NEOG) will announce earnings per share (EPS) of $0.34 for the current quarter, according to Zacks. Four analysts have issued estimates for Neogen’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.32. Neogen posted earnings of $0.29 per share during the same quarter last year, which would suggest a positive year over year growth rate of 17.2%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, January 3rd.

On average, analysts expect that Neogen will report full-year earnings of $1.31 per share for the current year, with EPS estimates ranging from $1.27 to $1.35. For the next financial year, analysts expect that the company will post earnings of $1.45 per share, with EPS estimates ranging from $1.42 to $1.50. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Neogen.

Neogen (NASDAQ:NEOG) last released its quarterly earnings data on Tuesday, September 19th. The company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The company had revenue of $95.30 million during the quarter, compared to the consensus estimate of $94.87 million. Neogen had a net margin of 12.28% and a return on equity of 9.93%. Neogen’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $0.26 EPS.

Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Neogen from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Craig Hallum raised their price target on shares of Neogen from $62.00 to $80.00 and gave the company a “hold” rating in a report on Thursday, December 7th. Roth Capital assumed coverage on shares of Neogen in a report on Tuesday, December 5th. They issued a “neutral” rating and a $82.00 price target for the company. Finally, BidaskClub downgraded shares of Neogen from a “buy” rating to a “hold” rating in a report on Friday, August 18th. Five analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $85.00.

Neogen (NASDAQ NEOG) traded up $0.75 on Friday, reaching $79.91. 89,500 shares of the company traded hands, compared to its average volume of 110,992. The company has a market cap of $3,024.06, a P/E ratio of 66.52, a PEG ratio of 4.02 and a beta of 1.54. Neogen has a 52 week low of $59.51 and a 52 week high of $85.89.

Neogen shares are going to split on Tuesday, January 2nd. The 4-3 split was announced on Friday, December 8th. The newly issued shares will be issued to shareholders after the market closes on Friday, December 29th.

In other news, CFO Steven J. Quinlan sold 2,772 shares of Neogen stock in a transaction on Monday, September 25th. The shares were sold at an average price of $73.54, for a total transaction of $203,852.88. Following the completion of the sale, the chief financial officer now directly owns 12,875 shares of the company’s stock, valued at approximately $946,827.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Edward Bradley sold 38,876 shares of Neogen stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $71.28, for a total transaction of $2,771,081.28. Following the sale, the vice president now directly owns 83,712 shares of the company’s stock, valued at $5,966,991.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 173,034 shares of company stock valued at $13,316,509. Insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NEOG. Vanguard Group Inc. raised its position in Neogen by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,319,437 shares of the company’s stock worth $229,406,000 after purchasing an additional 61,968 shares during the period. Conestoga Capital Advisors LLC raised its position in Neogen by 20.2% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 958,784 shares of the company’s stock worth $74,267,000 after purchasing an additional 161,170 shares during the period. State Street Corp raised its position in Neogen by 4.8% in the 2nd quarter. State Street Corp now owns 949,434 shares of the company’s stock worth $65,613,000 after purchasing an additional 43,496 shares during the period. Northern Trust Corp raised its position in Neogen by 2.8% in the 2nd quarter. Northern Trust Corp now owns 530,832 shares of the company’s stock worth $36,685,000 after purchasing an additional 14,353 shares during the period. Finally, Fred Alger Management Inc. raised its position in Neogen by 13.8% in the 2nd quarter. Fred Alger Management Inc. now owns 443,000 shares of the company’s stock worth $30,616,000 after purchasing an additional 53,745 shares during the period. 87.06% of the stock is owned by institutional investors.

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About Neogen

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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