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How Are Things Looking For Neogen Corporation (NASDAQ: NEOG) For The Short Term?

Neogen Corporation (NASDAQ:NEOG) traded at $15.88 at close of the session on Tuesday, 11/22/22, made an upward move of 2.78% on its previous day’s price.

Looking at the stock we see that its previous close was $15.45 and the beta (5Y monthly) reads 0.76 with the day’s price range being $15.4484 – $16.16. The company has a trailing 12-month PE ratio of 46.98. In terms of its 52-week price range, NEOG has a high of $47.80 and a low of $10.49. The company’s stock has gained about 41.28% over that past 30 days.

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Neogen Corporation has a market cap of $3.41 billion and is expected to release its quarterly earnings report on Dec 19, 2022 – Dec 23, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.08, with the EPS growth for the year raised at -$0.11 for 2023 and -$0.07 for next year. These figures represent -124.40% and 36.40% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $233.79 million, with a low of $226.87 million and a high of $240.7 million. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $848.56 million, or 61.00% up from figures reported last year.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the NEOG stock, short term indicators assign the stock an average of Hold, while medium term indicators assign it an average of 50% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 2 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Neogen Corporation (NEOG) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.

Looking further, we note that the PEG ratio for the NEOG stock currently stands at 4.70, and the current price level is 11.02% off its SMA20 and 14.54% from its 50-day simple moving average. The RSI (14) is pointing at 63.24 while the volatility over the past week is 2.94% and jumps to 4.19% over the past one month. The beta value is 0.73, while the average true range (ATR) is currently pointing at 0.63. The average price target for the stock over the next 12 months is $14.00, with the estimates having a low of $14.00 and a high of $14.00. These price ends are 11.84% and 11.84% off the current price level respectively, although investors could be excited at the prospect of a 11.84% if the NEOG share price touches on the median price of $14.00.

Let’s briefly compare Neogen Corporation (NEOG) stock to its peers. We find that current price change of 2.78% and -64.00% over the past 12 months for NEOG competes that of Thermo Fisher Scientific Inc. (TMO), which has seen its stock price rise 1.58% in the last trading session and was -14.07% over the last one year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at 1.36% and 1.18%, respectively, at close of the trading.

Coming back to Neogen Corporation (NASDAQ:NEOG), we note that the average 3-month trading volume was 7.09 million, while that of the preceding 10-day period stands at 3.68 million. Current shares outstanding are 216.11 million.

The insiders hold 0.10% of the company’s shares while institutions hold 93.30%. The data shows that short shares as of Oct 13, 2022, stood at 12.84 million at a short ratio of 2.16. This represents a 5.94% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 20.94 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -65.03% down in year-to-date price movement.

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