MGP Ingredients, Inc. (MGPI) Expected to Post Earnings of $0.50 Per Share
Brokerages expect that MGP Ingredients, Inc. (NASDAQ:MGPI) will report earnings of $0.50 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for MGP Ingredients’ earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.49. MGP Ingredients posted earnings per share of $0.48 in the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The company is scheduled to report its next earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that MGP Ingredients will report full year earnings of $2.20 per share for the current year, with EPS estimates ranging from $2.19 to $2.20. For the next year, analysts expect that the firm will report earnings of $1.98 per share, with EPS estimates ranging from $1.93 to $2.02. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for MGP Ingredients.
MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.45. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The company had revenue of $86.30 million for the quarter, compared to analysts’ expectations of $83.57 million. During the same quarter last year, the business earned $0.55 earnings per share. MGP Ingredients’s revenue was up 8.0% on a year-over-year basis.
A number of research analysts recently commented on MGPI shares. SunTrust Banks, Inc. restated a “buy” rating on shares of MGP Ingredients in a research report on Friday, November 3rd. Zacks Investment Research upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $71.33.
In other MGP Ingredients news, Director Daryl Schaller sold 20,000 shares of MGP Ingredients stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $72.58, for a total value of $1,451,600.00. Following the transaction, the director now owns 2,851 shares in the company, valued at $206,925.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Seaberg sold 2,492 shares of MGP Ingredients stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $73.05, for a total value of $182,040.60. Following the completion of the transaction, the director now owns 10,591 shares in the company, valued at approximately $773,672.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,731 shares of company stock worth $2,026,838. Company insiders own 23.50% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MGPI. Parametric Portfolio Associates LLC grew its position in MGP Ingredients by 6.1% in the first quarter. Parametric Portfolio Associates LLC now owns 5,239 shares of the company’s stock valued at $284,000 after acquiring an additional 302 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of MGP Ingredients by 2.2% during the first quarter. Teachers Advisors LLC now owns 22,829 shares of the company’s stock valued at $1,238,000 after purchasing an additional 496 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of MGP Ingredients by 4.2% during the first quarter. California Public Employees Retirement System now owns 37,600 shares of the company’s stock valued at $2,039,000 after purchasing an additional 1,500 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of MGP Ingredients by 11.4% during the first quarter. Vanguard Group Inc. now owns 507,767 shares of the company’s stock valued at $27,536,000 after purchasing an additional 51,902 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of MGP Ingredients by 4.1% during the first quarter. Geode Capital Management LLC now owns 99,887 shares of the company’s stock valued at $5,416,000 after purchasing an additional 3,942 shares in the last quarter.
Shares of MGP Ingredients (MGPI) traded up $1.22 during midday trading on Wednesday, hitting $74.25. The company had a trading volume of 50,573 shares, compared to its average volume of 142,359. The company has a quick ratio of 1.54, a current ratio of 4.45 and a debt-to-equity ratio of 0.21. MGP Ingredients has a 52 week low of $41.16 and a 52 week high of $78.02. The company has a market capitalization of $1,221.41, a PE ratio of 42.21, a P/E/G ratio of 2.22 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Tuesday, November 14th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Monday, November 13th. MGP Ingredients’s dividend payout ratio is presently 7.37%.
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About MGP Ingredients
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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