MGP Ingredients, Inc. (MGPI) Announces Earnings Results, Beats Estimates By $0.45 EPS
MGP Ingredients, Inc. (NASDAQ:MGPI) issued its quarterly earnings data on Thursday. The company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.45, Bloomberg Earnings reports. The firm had revenue of $86.30 million during the quarter, compared to analysts’ expectations of $83.57 million. MGP Ingredients had a net margin of 9.33% and a return on equity of 21.30%. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share.
A number of research analysts recently issued reports on MGPI shares. Zacks Investment Research upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub upgraded shares of MGP Ingredients from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th.
In other MGP Ingredients news, Director Karen Seaberg sold 5,305 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $64.03, for a total transaction of $339,679.15. Following the completion of the transaction, the director now owns 10,591 shares in the company, valued at approximately $678,141.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 12,837 shares of company stock valued at $789,473. Company insiders own 23.50% of the company’s stock.
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MGP Ingredients Company Profile
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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