Neogen Corp. (NEOG) Announces Quarterly Earnings Results, Hits Estimates
Neogen Corp. (NASDAQ:NEOG) issued its quarterly earnings data on Tuesday. The company reported $0.32 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.32, American Banking and Market News reports. The company had revenue of $58.55 million for the quarter, compared to the consensus estimate of $56.15 million.
NEOG has been the subject of a number of recent research reports. Analysts at Janney Montgomery Scott initiated coverage on shares of Neogen Corp. (NASDAQ:NEOG) in a research note to investors on Thursday, August 15th. They set a “neutral” rating on the stock. On a related note, analysts at Roth Capital raised their price target on shares of Neogen Corp. (NASDAQ:NEOG) to $65.00 in a research note to investors on Wednesday, July 24th. They now have a “buy” rating on the stock. Finally, analysts at Craig Hallum downgraded shares of Neogen Corp. (NASDAQ:NEOG) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, July 24th.
One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Neogen Corp. currently has an average rating of “Hold” and an average target price of $56.00.
Neogen Corp. (NASDAQ:NEOG) opened at 59.71 on Tuesday. Neogen Corp. has a 52 week low of $40.25 and a 52 week high of $60.98. The stock has a 50-day moving average of $56.5 and a 200-day moving average of $54.07. The company has a market cap of $1.437 billion and a price-to-earnings ratio of 53.31.
Neogen Corporation (NASDAQ:NEOG), together with its subsidiaries, develops, manufactures, and markets a diverse line of products dedicated to food and animal safety.
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