$0.34 Earnings Per Share Expected for Neogen Corporation (NEOG) This Quarter
Equities analysts forecast that Neogen Corporation (NASDAQ:NEOG) will report earnings per share of $0.34 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Neogen Corporation’s earnings, with estimates ranging from $0.32 to $0.35. Neogen Corporation reported earnings per share of $0.29 during the same quarter last year, which suggests a positive year-over-year growth rate of 17.2%. The business is expected to issue its next quarterly earnings results on Wednesday, December 20th.
On average, analysts expect that Neogen Corporation will report full year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.27 to $1.35. For the next 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 Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Neogen Corporation.
Neogen Corporation (NASDAQ:NEOG) last announced its earnings results on Tuesday, September 19th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. Neogen Corporation had a net margin of 12.28% and a return on equity of 9.93%. The firm had revenue of $95.30 million for the quarter, compared to the consensus estimate of $94.87 million. During the same period in the prior year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis.
NEOG has been the topic of several research analyst reports. BidaskClub cut shares of Neogen Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised shares of Neogen Corporation from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Thursday, July 20th. Finally, CL King began coverage on shares of Neogen Corporation in a research report on Friday, July 14th. They issued a “neutral” rating on the stock.
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In related news, Director Ronald D. Green sold 4,333 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $68.49, for a total value of $296,767.17. Following the transaction, the director now owns 3,333 shares in the company, valued at $228,277.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven J. Quinlan sold 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $80.26, for a total transaction of $321,040.00. Following the completion of the transaction, the chief financial officer now owns 14,103 shares in the company, valued at approximately $1,131,906.78. The disclosure for this sale can be found here. Insiders sold 157,543 shares of company stock worth $11,739,808 in the last 90 days. 4.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of Neogen Corporation during the second quarter valued at approximately $154,000. Riverhead Capital Management LLC raised its stake in shares of 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 purchasing an additional 1,097 shares during the period. Parametrica Management Ltd purchased a new stake in shares of Neogen Corporation during the third quarter valued at approximately $202,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Neogen Corporation during the third quarter valued at approximately $230,000. Finally, Victory Capital Management Inc. raised its stake in shares of Neogen Corporation by 17.5% during the second quarter. Victory Capital Management Inc. now owns 2,989 shares of the company’s stock valued at $207,000 after purchasing an additional 446 shares during the period. Hedge funds and other institutional investors own 86.54% of the company’s stock.
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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