Zacks: Brokerages Expect Neogen Corporation (NEOG) Will Announce Quarterly Sales of $95.09 Million
Wall Street brokerages expect Neogen Corporation (NASDAQ:NEOG) to post sales of $95.09 million for the current quarter, Zacks Investment Research reports. Two analysts have made 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 suggest a positive year-over-year growth rate of 13.7%. The company is scheduled to report its next earnings report on Tuesday, September 26th.
According to Zacks, analysts expect that Neogen Corporation will report full-year sales of $95.09 million for the current financial year, with estimates ranging from $398.55 million to $405.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $445.30 million per share, with estimates ranging from $435.60 million to $455.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Neogen Corporation.
Neogen Corporation (NASDAQ:NEOG) last issued its quarterly earnings data on Tuesday, July 18th. The company reported $0.32 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.32. Neogen Corporation had a net margin of 12.11% and a return on equity of 9.87%. The business had revenue of $98.80 million during the quarter, compared to analysts’ expectations of $100.80 million. During the same period in the previous year, the company earned $0.26 earnings per share. Neogen Corporation’s revenue for the quarter was up 9.7% on a year-over-year basis.
NEOG has been the topic of a number of recent research reports. BidaskClub lowered Neogen Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research note on Thursday, July 20th. Finally, CL King initiated coverage on Neogen Corporation in a research note on Friday, July 14th. They set a “neutral” rating on the stock.
In related news, VP Steven J. Quinlan sold 4,000 shares of Neogen Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $68.68, for a total value of $274,720.00. Following the transaction, the vice president now directly owns 14,103 shares of the company’s stock, valued at $968,594.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Edward Bradley sold 5,000 shares of Neogen Corporation stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $66.33, for a total value of $331,650.00. Following the completion of the transaction, the vice president now directly owns 86,512 shares in the company, valued at $5,738,340.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,333 shares of company stock worth $1,246,737. 4.70% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Creative Planning raised its position in Neogen Corporation by 1.3% in the second quarter. Creative Planning now owns 3,478 shares of the company’s stock worth $240,000 after buying an additional 46 shares in the last quarter. 1st Global Advisors Inc. raised its position in Neogen Corporation by 0.6% in the first quarter. 1st Global Advisors Inc. now owns 9,822 shares of the company’s stock worth $644,000 after buying an additional 54 shares in the last quarter. Pinebridge Investments L.P. raised its position in Neogen Corporation by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 5,022 shares of the company’s stock worth $347,000 after buying an additional 68 shares in the last quarter. Arizona State Retirement System raised its position in Neogen Corporation by 0.5% in the second quarter. Arizona State Retirement System now owns 19,841 shares of the company’s stock worth $1,371,000 after buying an additional 100 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Neogen Corporation by 3.4% in the first quarter. State of Alaska Department of Revenue now owns 4,210 shares of the company’s stock worth $275,000 after buying an additional 140 shares in the last quarter. 85.54% of the stock is currently owned by institutional investors.
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Neogen Corporation (NEOG) opened at 65.20 on Monday. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 57.19 and a beta of 1.52. Neogen Corporation has a 12 month low of $50.53 and a 12 month high of $69.97. The company’s 50-day moving average is $66.83 and its 200-day moving average is $65.01.
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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