>>BTW......I'll be looking for that split announcement at 8 AM tomorrow.
Since only 30M shares are authorized and we have 22.7 outstanding, I don't see how they could split more than 5 for 4...which hardly seems worth the trouble. But then, I don't have an actual model, so I guess we'll see how it goes...
Well, I hope you're right, although I'm not sure why falling prices in the last hour of trade a couple days before earnings has any bearing on future prices...can you explain that?
While I wouldn't turn down an all-time high on Friday, I'll be happy if everyone doesn't just "sell on the news'.
Unless earnings are an absolute blowout (and I mean by a good deal more than the usual fantastic numbers), I can't see why we keep going up. The P/E is as high as I've seen it in the last decade (the last time it was this high was 2002 (go look at the price chart and see how that worked out).
I'm not complaining, mind you. I just don't expect the party to continue, unabated, without something to justify it. But, I felt that way back around 35, so it might run a little longer just to confuse me further... But, my sense is that we're already ON the roller coaster, we just haven't seen what's over the hill, yet. :-)
But, I'm very comfortable that in 5 years, NEOG will be a lot higher than it is today. As a long term shareholder, I remain very bullish. But, in the short term, things will have to slow down at some point unless earnings just go through the roof.
I, too, am surprised by the current price. Forward PE is 36+, a pretty good indicator of earnings growth. Food Safety regs mean $$.
Herbert will say that NEOG is overvalued, or a little ahead of itself, but Mgt will continue to focus on what they're doing....if he's asked tomorrow. Looking forward to hearing what the plans are for the cash.