Why Shares of Neogen Are Slumping This Week The Motley Fool

Since then, NEOG shares have increased by 40.0% and is now trading at $21.32. The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. Get this delivered to your inbox, and more info about our products and services. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns.

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Traders should take this into account as the share price often fluctuates around this time period. Neogen CEO John Adent said that the company’s revenue “came in a little lighter than we’d thought.” Animal safety revenue is expected to fall by high-single-digit percentages, due to softer genomic sales. According to 3 analysts, the average rating for NEOG stock is “Buy.” The 12-month stock price forecast is $22.5, which is an increase of 5.54% from the latest price. Neogen Corp. shares soared 14% in premarket trade Tuesday, after the company confirmed a Wall Street Journal report that it is combining with 3M Corp.’s food-safety business in a deal with an enterprise value of $9.3 bil… Neogen issued an update on its FY 2024 earnings guidance on Thursday, July, 27th. The company provided earnings per share guidance of for the period.

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View analysts price targets for NEOG or view top-rated stocks among Wall Street analysts. Neogen Corp.’s NEOG fiscal first-quarter earnings rose 11% as margins improved on more sales of food-safety products. Neogen’s food safety test kits are used to detect bacteria, toxins and allergens, while its animal healt… High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks.

ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Neogen Corp. said it will enact a four-for-three stock split, on the heels of a 25.4% surge in the stock price year to date. The split will be effected in the form a stock dividend payable Dec. 29 to shareholders of recor… MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Zacks Earnings ESP (Expected Surprise Prediction) looks to find companies that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season.

• Revenue of $230.0 million, up 76.2% over the prior-year quarter.
• Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations.
• Morningstar analysts hand-select direct competitors or comparable companies to
  provide context on the strength and durability of NEOG’s
  competitive advantage.
• P. Carey (WPC), Advanced Micro Devices (AMD) and Costco Wholesale (COST).
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• Neogen Corp. engages in the development, manufacture, and marketing of food and animal safety products.

Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated. Dividend yield allows investors, particularly those interested in dividend-paying stocks,
to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price. Neogen’s stock was trading at $15.23 at the beginning of the year.

Neogen Corporation

These are established companies that reliably pay dividends. 3 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for Neogen in the last year. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should “moderate buy” NEOG shares. Neogen will announce its quarterly financial results in 11 days.

Sign-up to receive the latest news and ratings for Neogen and its competitors with MarketBeat’s FREE daily newsletter. NEOG earnings call for the period ending September 30, 2021. NEOG earnings call for the period ending December 31, 2021.

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The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. Revenue of $230.0 million, up 76.2% https://1investing.in/ over the prior-year quarter. Revenue of $218.3 million, an increase of 70% over the prior-year quarter. Revenue of $241.8 million, an increase of 72.6% over the prior-year quarter. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time.

The company issued revenue guidance of $955.00 million-$985.00 million. The company traditionally has had a slow first quarter, so the lower numbers aren’t a huge cause for concern. While revenue was reported as $241.8 million, up 72.6% year over year in the fourth quarter, net income was $5.6 million, compared to $14.9 million in the same period last year. Earnings per share (EPS) was $0.03 compared to $0.14 in the fourth quarter of fiscal 2022. The company said it is waiting for business to pick up once its clients run though what is considered a backlog of inventory.

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In animal safety (20% of post-merger sales), Neogen sells veterinary instruments, pharmaceuticals, disinfectants, and genomics tests for animals, including cattle, horses, and canines. Sales in the United States account for 60% of total revenue, while international markets, including Canada, Europe, Asia, and Latin America, account for the remaining 40%. Neogen Corp. engages in the development, manufacture, and marketing of food and animal safety products.

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Neogen and 3M to combine food-safety businesses, confirming report in WSJ

Neogen’s stock is owned by many different institutional and retail investors. 31 employees have rated Neogen Chief Executive Officer John Adent on Glassdoor.com. John Adent has an approval rating of 56% among the company’s employees. This puts John Adent in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. Shares of Neogen split on the morning of Tuesday, January 2nd 2018.

Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Neogen Corp.’s NEOG fiscal third-quarter earnings rose 6.1%, though slow sales in Europe contributed to the food and animals safety products maker’s slower-than-expected revenue growth. Shares of Neogen Corporation (NEOG -0.49%) were down more than 16% for the week, according to data provided by S&P Global Market Intelligence.

It operates through the Food Safety and Animal Safety segments. The Food Safety segment consists of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens, drug residues, and levels of general sanitation. The Animal Safety segment includes a line of consumable products marketed to veterinarians and animal health product distributors. The company was founded on June 30, 1981 and is headquartered in Lansing, MI.

The Zacks Industry Rank assigns a rating to each of the 265 X (Expanded) Industries based on their average Zacks Rank. The company announced, in an investor presentation at the Wells Fargo 2023 Healthcare Conference in Boston, that it is expecting fiscal 2024 first-quarter revenue to be slightly below expectations. According to the Double Buys Screener, a Premium feature of GuruFocus, five stocks with high guru and insider buys over the past few months include Intel Corp. ( INTC , Financial), Neogen Corp. ( NEOG… We’d like to share more about how we work and what drives our day-to-day business. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the socialism definition stocks that are the best fit for his or her personal trading style. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security.

Find out how earnings news affected some of these companies. The company said it is seeing lower first-quarter numbers than previously expected. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries.

Running down the pertinent corporate headlines of interest to investors before Tuesday’s opening bell. Upgrade to MarketBeat All Access to add more stocks to your watchlist. One share of NEOG stock can currently be purchased for approximately $21.32. Based on aggregate information from My MarketBeat watchlists, some companies that other Neogen investors own include NVIDIA (NVDA), NIKE (NKE), Pfizer (PFE), AT&T (T), AbbVie (ABBV), Boeing (BA), JPMorgan Chase & Co. (JPM), W. P. Carey (WPC), Advanced Micro Devices (AMD) and Costco Wholesale (COST).

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NEOG’s beta can be found in Trading Information at the top of this page. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. Morningstar analysts hand-select direct competitors or comparable companies to
provide context on the strength and durability of NEOG’s
competitive advantage.

As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum.

The healthcare company, which specializes in food and animal safety solutions, saw its stock close last week at $23.33. It then fell to as low as $20.22 on Thursday after Neogen released preliminary fiscal 2024 first-quarter numbers. 3 Wall Street research analysts have issued 1-year price objectives for Neogen’s stock. Their NEOG share price forecasts range from $24.00 to $28.00. On average, they anticipate the company’s stock price to reach $26.00 in the next year. This suggests a possible upside of 22.0% from the stock’s current price.