Wall Street analysts forecast that MGM Growth Properties LLC (NYSE:MGP) will report sales of $283.81 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for MGM Growth Properties’ earnings. The lowest sales estimate is $281.96 million and the highest is $286.30 million. MGM Growth Properties posted sales of $214.54 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.3%. The firm is expected to report its next quarterly earnings results on Tuesday, February 19th.

On average, analysts expect that MGM Growth Properties will report full year sales of $1.00 billion for the current year, with estimates ranging from $994.58 million to $1.00 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.04 billion, with estimates ranging from $992.95 million to $1.10 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last issued its earnings results on Thursday, November 1st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.31). MGM Growth Properties had a net margin of 6.13% and a return on equity of 0.95%. The firm had revenue of $282.22 million during the quarter, compared to analyst estimates of $273.53 million. During the same quarter last year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 54.4% on a year-over-year basis.

Several equities research analysts recently issued reports on MGP shares. Zacks Investment Research upgraded shares of MGM Growth Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, October 10th. Nomura started coverage on shares of MGM Growth Properties in a research note on Wednesday, September 26th. They issued a “buy” rating and a $37.00 target price for the company. Citigroup upgraded shares of MGM Growth Properties from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 8th. Bank of America downgraded shares of MGM Growth Properties from a “buy” rating to a “neutral” rating in a research report on Monday, October 15th. Finally, SunTrust Banks restated a “hold” rating on shares of MGM Growth Properties in a research report on Tuesday, October 2nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.67.

A number of hedge funds have recently modified their holdings of MGP. United Services Automobile Association acquired a new stake in MGM Growth Properties during the third quarter worth approximately $20,559,000. Russell Investments Group Ltd. lifted its position in MGM Growth Properties by 1,233.8% during the second quarter. Russell Investments Group Ltd. now owns 620,257 shares of the financial services provider’s stock worth $18,977,000 after acquiring an additional 573,755 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of MGM Growth Properties by 8.4% during the third quarter. Capital Research Global Investors now owns 6,913,787 shares of the financial services provider’s stock worth $203,888,000 after purchasing an additional 533,438 shares during the period. Capital Growth Management LP increased its holdings in shares of MGM Growth Properties by 47.4% during the third quarter. Capital Growth Management LP now owns 1,150,000 shares of the financial services provider’s stock worth $33,914,000 after purchasing an additional 370,000 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of MGM Growth Properties by 294.0% during the third quarter. JPMorgan Chase & Co. now owns 452,967 shares of the financial services provider’s stock worth $13,358,000 after purchasing an additional 338,002 shares during the period. Hedge funds and other institutional investors own 97.14% of the company’s stock.

NYSE:MGP traded down $0.43 during mid-day trading on Friday, hitting $28.56. The stock had a trading volume of 859,806 shares, compared to its average volume of 530,954. MGM Growth Properties has a twelve month low of $25.31 and a twelve month high of $31.61. The company has a market capitalization of $2.02 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.31 and a beta of -0.02. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.86 and a current ratio of 0.86.

About MGM Growth Properties

MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings.

Featured Article: What is the quiet period?

Get a free copy of the Zacks research report on MGM Growth Properties (MGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MGM Growth Properties (NYSE:MGP)

Receive News & Ratings for MGM Growth Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties and related companies with MarketBeat.com's FREE daily email newsletter.