Equities research analysts expect MGP Ingredients Inc (NASDAQ:MGPI) to report earnings of $0.67 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for MGP Ingredients’ earnings. MGP Ingredients posted earnings of $0.52 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 28.8%. The firm is expected to issue its next quarterly earnings results on Thursday, November 7th.
According to Zacks, analysts expect that MGP Ingredients will report full year earnings of $2.65 per share for the current fiscal year. For the next year, analysts forecast that the company will post earnings of $3.36 per share. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for MGP Ingredients.
MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.06). The business had revenue of $90.50 million for the quarter, compared to analyst estimates of $91.54 million. MGP Ingredients had a return on equity of 18.75% and a net margin of 10.00%. MGP Ingredients’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS.
A number of hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in shares of MGP Ingredients by 8.3% during the 4th quarter. Geode Capital Management LLC now owns 148,495 shares of the company’s stock valued at $8,471,000 after purchasing an additional 11,390 shares during the period. Bank of America Corp DE increased its position in shares of MGP Ingredients by 98.9% during the 4th quarter. Bank of America Corp DE now owns 141,773 shares of the company’s stock valued at $8,087,000 after purchasing an additional 70,510 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of MGP Ingredients by 368.2% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 4,307 shares of the company’s stock valued at $246,000 after purchasing an additional 3,387 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in shares of MGP Ingredients during the 4th quarter valued at $208,000. Finally, Macquarie Group Ltd. acquired a new position in shares of MGP Ingredients during the 4th quarter valued at $1,417,000. Institutional investors and hedge funds own 98.10% of the company’s stock.
Shares of NASDAQ:MGPI traded up $0.10 during mid-day trading on Friday, reaching $48.01. 195,100 shares of the company’s stock were exchanged, compared to its average volume of 368,791. The firm has a market capitalization of $824.52 million, a price-to-earnings ratio of 22.12 and a beta of 1.73. The business’s fifty day moving average price is $62.45 and its 200-day moving average price is $70.45. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.59 and a current ratio of 5.26. MGP Ingredients has a twelve month low of $46.26 and a twelve month high of $100.00.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, August 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.40 annualized dividend and a yield of 0.83%. MGP Ingredients’s payout ratio is 18.43%.
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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