Neogen Corp (NEOG) Misses Q1 EPS by 2c
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Roth Affirms Neogen (NEOG) at 'Buy'; Developing Market Efforts Should Outpace FX Issues
September 23, 2015 6:58 AM EDTRoth Capital affirms its Buy rating and $65 price target on Neogen Corp. (Nasdaq: NEOG) following recent Q1 results.
Analyst Anton Brenner noted the following key points:
Revenues in Q11 rose 10.7% to $74.9 million, slightly below our $75.5 million estimate. The negative impact of the stronger dollar on revenues was $2.2 million in Q1. EPS equaled $0.25 vs. $0.24, below our $0.27 estimate. Currency translation reduced EPS in the period by $0.02.All of the currencies in which NEOG operates declined in Q1: the Brazilian Real -32%, the Euro -18%, the Mexican peso -18%... More