For its third fiscal quarter (ending February 28), Neogen Corp (NASDAQ: NEOG) has reported a -125% decline in E.P.S. from $0.04 a year ago to $-0.01 in the current quarter. This result fell short of the consensus estimate of $0.14 by $-0.15. E.P.S. were $0.01 for the latest four quarters through February 28 versus $-0.02 for the same period a year ago.
Recent Price Action
On 4/9/24, Neogen Corp (NASDAQ: NEOG) stock suffered a large decline of -9.3%, closing at $13.04. Moreover, this decline was accompanied by exceptionally high trading volume at 448% of normal. Relative to the market the stock has been weak over the last nine months and has declined -13.5% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be in line with the cost of capital, NEOG is expected to continue to be Value Creation neutral.
Neogen has a current Value Trend Rating of F (Lowest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Neogen has a slightly negative Appreciation Score of 30 and a poor Power Rating of 17, producing the Lowest Value Trend Rating.
Rating Review
In light of this discouraging new earnings information and negative market action we are reviewing our current Overall Rating of F. We would continue to view the shares with caution pending completion of this review in the next several days.
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