Neogen (NASDAQ:NEOG) Announces Earnings Results, Beats Estimates By $0.02 EPS

Neogen (NASDAQ:NEOG) announced its quarterly earnings data on Tuesday. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02, Zacks reports. Neogen had a negative net margin of 0.91% and a positive return on equity of 2.78%.

Neogen Trading Down 8.1%

Shares of NASDAQ NEOG traded down $1.05 during trading on Tuesday, hitting $11.96. 5,823,236 shares of the company traded hands, compared to its average volume of 2,892,215. The firm has a market capitalization of $2.61 billion, a P/E ratio of -398.67, a P/E/G ratio of 4.56 and a beta of 1.79. The company has a quick ratio of 2.91, a current ratio of 3.82 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $12.02 and a 200-day moving average price of $10.22. Neogen has a 1 year low of $5.37 and a 1 year high of $14.26.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Guggenheim restated a “buy” rating and issued a $14.00 price objective (up from $12.00) on shares of Neogen in a research report on Wednesday, September 30th. Piper Sandler raised shares of Neogen from a “neutral” rating to an “overweight” rating and upped their price target for the company from $13.00 to $14.00 in a report on Wednesday, August 26th. Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Neogen from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.67.

Neogen Company Profile

Neogen Corporation is a global provider of food safety and animal safety products and services. The company develops diagnostic tests, laboratory products, and related solutions that help customers detect foodborne pathogens, allergens, toxins, residues, and other contaminants throughout the food production process.

Its food safety portfolio includes test kits, culture media, molecular testing systems, sanitation monitoring products, and laboratory supplies used by food manufacturers, processors, retailers, and regulatory organizations.