Equities analysts expect Neogen Co. (NASDAQ:NEOG) to report earnings of $0.31 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Neogen’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.30. Neogen reported earnings of $0.33 per share during the same quarter last year, which would indicate a negative year over year growth rate of 6.1%. The business is scheduled to issue its next quarterly earnings results 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 financial year, with EPS estimates ranging from $1.23 to $1.25. For the next year, analysts anticipate that the company will report earnings of $1.33 per share, with EPS estimates ranging from $1.28 to $1.37. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that follow Neogen.

Neogen (NASDAQ:NEOG) last announced its earnings results on Tuesday, September 25th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $99.60 million for the quarter, compared to the consensus estimate of $104.43 million. During the same period in the previous year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis.

Several research analysts recently weighed in on NEOG shares. BidaskClub downgraded Neogen from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. ValuEngine downgraded Neogen from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 26th. Finally, Zacks Investment Research downgraded 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 issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.75.

NEOG stock traded up $0.38 on Friday, hitting $62.00. 188,269 shares of the company’s stock were exchanged, compared to its average volume of 217,915. Neogen has a 12-month low of $54.09 and a 12-month high of $97.38. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 51.24 and a beta of 1.38.

Neogen declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 10th that allows the company to buyback 3,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other news, CEO John Edward Adent purchased 4,300 shares of the company’s stock in a transaction on Wednesday, September 26th. The shares were acquired at an average price of $73.58 per share, for a total transaction of $316,394.00. Following the purchase, the chief executive officer now owns 4,300 shares in the company, valued at $316,394. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman James L. Herbert sold 2,748 shares of the business’s stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $60.51, for a total value of $166,281.48. Following the sale, the chairman now owns 742,576 shares in the company, valued at approximately $44,933,273.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 72,851 shares of company stock worth $4,482,628. 3.00% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Neogen by 4.6% during the 3rd quarter. BlackRock Inc. now owns 7,447,171 shares of the company’s stock valued at $532,697,000 after purchasing an additional 326,485 shares during the last quarter. Vanguard Group Inc. grew its stake in Neogen by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,020,145 shares of the company’s stock valued at $359,091,000 after purchasing an additional 149,536 shares during the last quarter. Conestoga Capital Advisors LLC grew its stake in Neogen by 13.9% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,440,469 shares of the company’s stock valued at $103,037,000 after purchasing an additional 175,313 shares during the last quarter. Janus Henderson Group PLC grew its stake in Neogen by 4.5% during the 2nd quarter. Janus Henderson Group PLC now owns 779,568 shares of the company’s stock valued at $62,514,000 after purchasing an additional 33,344 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Neogen by 2.4% during the 2nd quarter. Northern Trust Corp now owns 705,992 shares of the company’s stock valued at $56,613,000 after purchasing an additional 16,686 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.

Neogen Company Profile

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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Earnings History and Estimates for Neogen (NASDAQ:NEOG)

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