Neogen Corporation (NASDAQ:NEOG) traded at $19.36 at last check on Tuesday, 01/24/23, made a downward move of -2.32% on its previous day’s price.
Looking at the stock we see that its previous close was $19.82 and the beta (5Y monthly) reads 0.80 with the day’s price range being $19.68 – $20.01. The company has a trailing 12-month PE ratio of 450.45. In terms of its 52-week price range, NEOG has a high of $36.90 and a low of $10.49. The company’s stock has gained about 32.75% over that past 30 days.
Neogen Corporation has a market cap of $4.27 billion and is expected to release its quarterly earnings report on Mar 22, 2023 – Mar 27, 2023. Estimates by analysts give the company expected earnings per share (EPS) of $0.03, with the EPS growth for the year raised at -$0.06 for 2023 and $0.24 for next year. These figures represent -113.30% and 500.00% 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 $227.36 million, with a low of $225.3 million and a high of $229.43 million. The median projection represents growth squeezing down to 77.30% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $823.28 million, or 56.20% 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 50% Buy, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of Hold.
Looking further, we note that the PEG ratio for the NEOG stock currently stands at 45.05, and the most recent price level today is 13.17% off its SMA20 and 19.38% from its 50-day simple moving average. The RSI (14) is pointing at 73.22 while the volatility over the past week is 3.24% and jumps to 3.45% over the past one month. The beta value is 0.83, while the average true range (ATR) is currently pointing at 0.61. The average price target for the stock over the next 12 months is $20.00, with the estimates having a low of $20.00 and a high of $20.00. These price ends are -3.31% and -3.31% off the today’s price level respectively, although investors could be excited at the prospect of a -3.31% if the NEOG share price touches on the median price of $20.00.
Let’s briefly compare Neogen Corporation (NEOG) stock to its peers. We find that today’s price change of -2.32% and -43.42% over the past 12 months for NEOG competes that of Thermo Fisher Scientific Inc. (TMO), which has seen its stock price fall -1.84% in the latest trading session and is 0.07% over the last one year. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.45% and -1.08%, respectively, in early deals.
Coming back to Neogen Corporation (NASDAQ:NEOG), we note that the average 3-month trading volume was 3.49 million, while that of the preceding 10-day period stands at 2.73 million. Current shares outstanding are 216.13 million.
The insiders hold 0.10% of the company’s shares while institutions hold 93.50%. The data shows that short shares as of Dec 29, 2022, stood at 8.73 million at a short ratio of 2.57. This represents a 4.04% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 10.58 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 30.14% up in year-to-date price movement.