Updated Earnings Projections for Neogen Corporation
Earnings Expectations for Neogen Corporation
Neogen Corporation (NASDAQ: NEOG) is gearing up to announce its earnings results for the first quarter. Analysts predict that the company, located in Michigan, is likely to report quarterly earnings of 4 cents per share. This figure is a decline compared to the 7 cents per share reported in the same quarter last year. Moreover, Neogen is anticipating quarterly revenue of $204.15 million, a step down from $216.96 million in the previous year.
Recent Developments at Neogen
In a significant update, on September 15, Neogen revealed that Chief Financial Officer and Chief Operating Officer, David Naemura, has plans to leave the company. This news has drawn attention as leadership changes can impact investor sentiment and stock performance.
Stock Performance Overview
On a recent trading day, Neogen’s shares fell by 7.1%, closing at $5.63. This decrease has raised concerns among investors, especially as the company prepares to disclose its financial results.
Analyst Ratings on Neogen
Let’s delve into what analysts are saying about Neogen. A selection of the most recent ratings provides insight into varying perspectives:
- William Blair analyst Brandon Vazquez has downgraded the stock from Outperform to Market Perform. This decision was made on July 29, reflecting a cautious outlook based on current company performance. This analyst has an accuracy rate of 67%.
- Guggenheim analyst Subbu Nambi has maintained a Buy rating while adjusting the price target down from $13 to $10. This revision, made on June 30, may signal that analysts are factoring in current market conditions as they evaluate Neogen’s future performance. This analyst has an accuracy rate of 61%.
- Piper Sandler analyst David Westenberg has kept a Neutral rating but reduced the price target from $6.4 to $5 on April 22. This highlights the analysts' cautious stance amidst the evolving circumstances around the company. This analyst has an accuracy rate of 70%.
Considerations for Investors
For those considering an investment in NEOG stock, understanding analyst perspectives is crucial. The changes in ratings and price targets suggest a mix of caution and opportunity within the market. Engaging with the latest thoughts from financial analysts can provide a clearer view of where Neogen stands in the competitive landscape.
Frequently Asked Questions
What are the expected earnings for Neogen Corporation?
The analysts expect Neogen Corporation to report earnings of 4 cents per share for the first quarter.
How has Neogen's stock performed recently?
Recently, Neogen's stock fell by 7.1%, closing at $5.63, which raised concerns regarding its upcoming earnings announcement.
What recent leadership change was announced by Neogen?
Neogen announced that CFO and COO David Naemura is set to depart the company, which is significant for its future direction.
What do analysts think about NEOG stock?
Analysts have varied views, with some downgrading their ratings while others maintain buy positions, reflecting a cautious but opportunistic outlook.
What is the anticipated revenue for Neogen this quarter?
Neogen is projected to generate quarterly revenue of $204.15 million, down from $216.96 million last year.
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