Neogen (NEOG) Set to Announce Quarterly Earnings on Tuesday

Neogen (NASDAQ:NEOG) will be issuing its quarterly earnings data before the market opens on Tuesday, April 9th. Analysts expect the company to announce earnings of $0.14 per share for the quarter. Neogen has set its FY 2024 guidance at EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Neogen (NASDAQ:NEOG) last issued its quarterly earnings results on Tuesday, January 9th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. Neogen had a net margin of 1.28% and a return on equity of 3.35%. The company had revenue of $229.60 million for the quarter, compared to the consensus estimate of $232.85 million. During the same quarter in the prior year, the company earned $0.15 EPS. Neogen’s quarterly revenue was down .2% on a year-over-year basis. On average, analysts expect Neogen to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Neogen Price Performance

Shares of NASDAQ:NEOG opened at $14.35 on Friday. Neogen has a twelve month low of $13.94 and a twelve month high of $24.09. The company’s 50 day moving average is $16.08 and its 200 day moving average is $16.93. The company has a current ratio of 3.54, a quick ratio of 2.63 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.11 billion, a PE ratio of 239.21 and a beta of 1.13.

Analysts Set New Price Targets

Separately, Piper Sandler upped their price objective on Neogen from $17.50 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th.

Institutional Investors Weigh In On Neogen

Hedge funds have recently bought and sold shares of the stock. Raymond James Trust N.A. lifted its position in shares of Neogen by 6.7% during the 1st quarter. Raymond James Trust N.A. now owns 6,981 shares of the company’s stock valued at $215,000 after buying an additional 441 shares in the last quarter. United Services Automobile Association lifted its holdings in Neogen by 4.5% in the 2nd quarter. United Services Automobile Association now owns 13,988 shares of the company’s stock valued at $304,000 after purchasing an additional 608 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Neogen by 1.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 40,163 shares of the company’s stock valued at $968,000 after purchasing an additional 759 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in Neogen by 1.5% in the 4th quarter. Gamco Investors INC. ET AL now owns 69,530 shares of the company’s stock valued at $1,398,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its holdings in Neogen by 1.8% in the 1st quarter. Yousif Capital Management LLC now owns 57,421 shares of the company’s stock valued at $1,771,000 after purchasing an additional 1,018 shares in the last quarter. Hedge funds and other institutional investors own 96.73% of the company’s stock.

About Neogen

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including 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 to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.