Brokerages predict that Neogen Co. (NASDAQ:NEOG) will post $0.31 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Neogen’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.32. Neogen posted earnings of $0.33 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 6.1%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, December 20th.
According to Zacks, analysts expect that Neogen will report full-year earnings of $1.24 per share for the current fiscal year, with EPS estimates ranging from $1.23 to $1.25. For the next fiscal year, analysts forecast that the company will post earnings of $1.33 per share, with EPS estimates ranging from $1.28 to $1.37. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Neogen.
Neogen (NASDAQ:NEOG) last posted its quarterly earnings results on Tuesday, September 25th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. Neogen had a return on equity of 12.06% and a net margin of 16.35%. The company had revenue of $99.60 million for the quarter, compared to analysts’ expectations of $104.43 million. During the same period last year, the firm earned $0.31 earnings per share. Neogen’s quarterly revenue was up 5.7% on a year-over-year basis.
A number of research firms have weighed in on NEOG. BidaskClub cut Neogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. ValuEngine cut Neogen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 26th. Finally, Zacks Investment Research cut Neogen from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.75.
In other Neogen news, insider James L. Herbert sold 25,335 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $62.44, for a total transaction of $1,581,917.40. Following the transaction, the insider now owns 746,484 shares of the company’s stock, valued at $46,610,460.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John Edward Adent acquired 4,300 shares of the company’s stock in a transaction on Wednesday, September 26th. The shares were purchased at an average cost of $73.58 per share, for a total transaction of $316,394.00. Following the acquisition, the chief executive officer now owns 4,300 shares of the company’s stock, valued at approximately $316,394. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 72,851 shares of company stock worth $4,482,628. Corporate insiders own 3.00% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Amalgamated Bank grew its holdings in shares of Neogen by 13.7% during the second quarter. Amalgamated Bank now owns 8,201 shares of the company’s stock worth $658,000 after buying an additional 987 shares during the last quarter. Piedmont Investment Advisors LLC grew its holdings in shares of Neogen by 8.9% during the second quarter. Piedmont Investment Advisors LLC now owns 11,997 shares of the company’s stock worth $962,000 after buying an additional 985 shares during the last quarter. Aperio Group LLC grew its holdings in shares of Neogen by 3.6% during the second quarter. Aperio Group LLC now owns 23,532 shares of the company’s stock worth $1,887,000 after buying an additional 821 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Neogen by 67.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 125,316 shares of the company’s stock worth $10,049,000 after buying an additional 50,450 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Neogen by 51.1% during the second quarter. First Trust Advisors LP now owns 42,078 shares of the company’s stock worth $3,374,000 after buying an additional 14,233 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors.
Neogen stock traded up $0.38 during midday trading on Friday, reaching $62.00. The company’s stock had a trading volume of 188,269 shares, compared to its average volume of 217,915. Neogen has a fifty-two week low of $54.09 and a fifty-two week high of $97.38. The stock has a market cap of $3.20 billion, a PE ratio of 51.24 and a beta of 1.38.
Neogen declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 10th that permits the company to buyback 3,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Neogen Corporation, together with its subsidiaries, develops, manufactures, and markets various products for food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment primarily offers diagnostic test kits and complementary to detect dangerous and/or unintended substances in human food and animal feed, such as foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test for adenosine triphosphate, a chemical found in living cells.
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