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

Neogen (NASDAQ:NEOG) posted its quarterly earnings data on Tuesday. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 NEOG traded down $1.05 during mid-day trading on Tuesday, reaching $11.96. The company had a trading volume of 5,875,780 shares, compared to its average volume of 2,904,031. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of -398.67, a price-to-earnings-growth ratio of 4.56 and a beta of 1.79. The firm has a fifty day simple moving average of $12.02 and a 200-day simple moving average of $10.22. Neogen has a fifty-two week low of $5.37 and a fifty-two week high of $14.26. The company has a current ratio of 3.82, a quick ratio of 2.91 and a debt-to-equity ratio of 0.38.

Analysts Set New Price Targets

Several research analysts have weighed in on NEOG shares. Wall Street Zen upgraded Neogen from a “buy” rating to a “strong-buy” rating in a report on Saturday. Weiss Ratings upgraded Neogen from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Guggenheim reiterated a “buy” rating and set a $14.00 target price (up from $12.00) on shares of Neogen in a research report on Wednesday, September 30th. Finally, Piper Sandler raised Neogen from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $13.00 to $14.00 in a research note on Wednesday, August 26th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company 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.