$0.52 EPS Expected for MGP Ingredients Inc (NASDAQ:MGPI) This Quarter
Brokerages forecast that MGP Ingredients Inc (NASDAQ:MGPI) will announce earnings of $0.52 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for MGP Ingredients’ earnings. MGP Ingredients reported earnings per share of $0.44 during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.2%. The company is expected to issue its next quarterly earnings report before the market opens on Wednesday, July 31st.
According to Zacks, analysts expect that MGP Ingredients will report full-year earnings of $2.62 per share for the current year. For the next year, analysts anticipate that the business will report earnings of $3.18 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover MGP Ingredients.
MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. The firm had revenue of $89.10 million for the quarter, compared to analyst estimates of $91.25 million. MGP Ingredients had a net margin of 9.97% and a return on equity of 19.31%. MGP Ingredients’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS.
Large investors have recently modified their holdings of the business. First Hawaiian Bank increased its stake in MGP Ingredients by 74.2% during the first quarter. First Hawaiian Bank now owns 472 shares of the company’s stock worth $36,000 after purchasing an additional 201 shares during the period. Marshall Wace North America L.P. purchased a new stake in MGP Ingredients during the first quarter worth about $37,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of MGP Ingredients during the fourth quarter worth about $208,000. Quantamental Technologies LLC acquired a new position in shares of MGP Ingredients during the first quarter worth about $217,000. Finally, UMB Bank N A MO acquired a new position in shares of MGP Ingredients during the first quarter worth about $230,000. Institutional investors own 98.10% of the company’s stock.
MGPI traded up $0.52 on Thursday, hitting $67.48. The company had a trading volume of 1,845 shares, compared to its average volume of 127,919. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 31.18 and a beta of 1.75. MGP Ingredients has a 1 year low of $53.66 and a 1 year high of $100.00. The stock’s fifty day simple moving average is $65.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.59 and a current ratio of 5.25.
MGP Ingredients Company Profile
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
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