Analysts predict that MGP Ingredients, Inc. (NASDAQ:MGPI) will announce earnings per share (EPS) of $0.49 for the current quarter, Zacks reports. Three analysts have made estimates for MGP Ingredients’ earnings. The lowest EPS estimate is $0.47 and the highest is $0.50. MGP Ingredients reported earnings of $0.48 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that MGP Ingredients will report full-year earnings of $2.05 per share for the current fiscal year, with EPS estimates ranging from $1.77 to $2.20. For the next year, analysts forecast that the company will post earnings of $2.04 per share, with EPS estimates ranging from $1.93 to $2.17. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow MGP Ingredients.
MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.45. The firm had revenue of $86.30 million for the quarter, compared to the consensus estimate of $83.57 million. MGP Ingredients had a net margin of 10.56% and a return on equity of 18.70%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.55 EPS.
MGPI has been the topic of a number of recent analyst reports. SunTrust Banks reiterated a “buy” rating on shares of MGP Ingredients in a research note on Friday, November 3rd. Zacks Investment Research cut MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Thursday, November 23rd. Stifel Nicolaus initiated coverage on MGP Ingredients in a research note on Tuesday, December 5th. They set a “hold” rating and a $73.00 target price on the stock. Finally, BidaskClub cut MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $71.75.
In related news, Director Karen Seaberg sold 2,492 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $73.05, for a total value of $182,040.60. Following the sale, the director now directly owns 10,591 shares in the company, valued at approximately $773,672.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daryl Schaller sold 20,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $72.58, for a total value of $1,451,600.00. Following the completion of the sale, the director now owns 2,851 shares in the company, valued at $206,925.58. The disclosure for this sale can be found here. Insiders sold a total of 27,797 shares of company stock worth $1,973,320 over the last 90 days. 23.50% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of MGP Ingredients during the third quarter valued at about $128,000. Victory Capital Management Inc. increased its position in shares of MGP Ingredients by 17.7% during the second quarter. Victory Capital Management Inc. now owns 2,165 shares of the company’s stock valued at $111,000 after buying an additional 325 shares during the period. ETF Managers Group LLC bought a new stake in shares of MGP Ingredients during the second quarter valued at about $134,000. Suntrust Banks Inc. bought a new stake in shares of MGP Ingredients during the second quarter valued at about $208,000. Finally, Aperio Group LLC bought a new stake in shares of MGP Ingredients during the second quarter valued at about $240,000.
MGP Ingredients (NASDAQ MGPI) traded up $0.08 during midday trading on Friday, hitting $74.09. The stock had a trading volume of 149,100 shares, compared to its average volume of 136,790. The company has a market cap of $1,237.80, a PE ratio of 42.78, a price-to-earnings-growth ratio of 2.25 and a beta of 0.95. MGP Ingredients has a 12 month low of $41.16 and a 12 month high of $78.02. The company has a quick ratio of 1.54, a current ratio of 4.45 and a debt-to-equity ratio of 0.21.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Tuesday, November 14th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Monday, November 13th. MGP Ingredients’s dividend payout ratio is currently 7.37%.
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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