Brokerages Expect Neogen Corporation (NEOG) to Post $0.30 Earnings Per Share
Neogen Corporation (NASDAQ:NEOG) has earned a consensus broker rating score of 3.00 (Hold) from the six analysts that cover the stock, Zacks Investment Research reports. Six analysts have rated the stock with a hold recommendation.
Brokers have set a 1 year consensus price objective of $59.67 for the company and are forecasting that the company will post $0.30 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Neogen Corporation an industry rank of 171 out of 265 based on the ratings given to related companies.
NEOG has been the topic of a number of recent analyst reports. Zacks Investment Research raised Neogen Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. CL King initiated coverage on Neogen Corporation in a research report on Friday, July 14th. They set a “neutral” rating on the stock. Finally, BidaskClub lowered Neogen Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th.
Neogen Corporation (NASDAQ NEOG) traded up 2.32% during mid-day trading on Friday, reaching $73.07. The company had a trading volume of 275,322 shares. Neogen Corporation has a 12 month low of $50.53 and a 12 month high of $73.45. The stock’s 50-day moving average is $67.67 and its 200 day moving average is $65.46. The firm has a market capitalization of $2.79 billion, a P/E ratio of 64.10 and a beta of 1.51.
Neogen Corporation (NASDAQ:NEOG) last announced its earnings results on Tuesday, July 18th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.32. The company had revenue of $98.80 million for the quarter, compared to analyst estimates of $100.80 million. Neogen Corporation had a return on equity of 9.87% and a net margin of 12.11%. Neogen Corporation’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. On average, analysts predict that Neogen Corporation will post $1.30 earnings per share for the current fiscal year.
In related news, VP Steven J. Quinlan sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $68.68, for a total transaction 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 Securities & Exchange Commission, which can be accessed through this link. Also, VP Edward Bradley sold 5,000 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $68.72, for a total value of $343,600.00. Following the transaction, the vice president now directly owns 91,512 shares in the company, valued at $6,288,704.64. The disclosure for this sale can be found here. Insiders have sold 38,333 shares of company stock worth $2,647,873 over the last ninety days. 4.20% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in Neogen Corporation during the second quarter valued at $154,000. Riverhead Capital Management LLC raised its position in Neogen Corporation by 91.4% during the second quarter. Riverhead Capital Management LLC now owns 2,297 shares of the company’s stock valued at $159,000 after buying an additional 1,097 shares during the period. Victory Capital Management Inc. raised its position in Neogen Corporation by 53.0% during the first quarter. Victory Capital Management Inc. now owns 2,543 shares of the company’s stock valued at $167,000 after buying an additional 881 shares during the period. Teacher Retirement System of Texas acquired a new position in Neogen Corporation during the second quarter valued at $209,000. Finally, Creative Planning raised its position in Neogen Corporation by 1.3% during the second quarter. Creative Planning now owns 3,478 shares of the company’s stock valued at $240,000 after buying an additional 46 shares during the period. 86.21% of the stock is currently owned by hedge funds and other institutional investors.
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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