Brokerages expect that MGM Growth Properties LLC (NYSE:MGP) will post earnings per share (EPS) of $0.41 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for MGM Growth Properties’ earnings. The lowest EPS estimate is $0.21 and the highest is $0.50. MGM Growth Properties reported earnings per share of $0.18 in the same quarter last year, which indicates a positive year-over-year growth rate of 127.8%. The company is expected to issue its next earnings report before the market opens on Wednesday, November 8th.
On average, analysts expect that MGM Growth Properties will report full-year earnings of $1.67 per share for the current fiscal year, with EPS estimates ranging from $0.80 to $2.00. For the next fiscal year, analysts forecast that the firm will report earnings of $1.83 per share, with EPS estimates ranging from $0.96 to $2.18. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover MGM Growth Properties.
MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.32). MGM Growth Properties had a return on equity of 0.81% and a net margin of 6.21%. The business had revenue of $184.45 million for the quarter, compared to analyst estimates of $184.43 million. During the same period in the prior year, the company earned $0.32 EPS. The company’s revenue was up 66.3% on a year-over-year basis.
A number of brokerages recently weighed in on MGP. Zacks Investment Research lowered MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Saturday, September 16th. Deutsche Bank AG upped their price objective on MGM Growth Properties from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Wednesday, August 9th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of MGM Growth Properties in a report on Thursday, August 10th. Morgan Stanley upped their target price on MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, UBS AG reissued a “buy” rating and issued a $33.00 target price (up previously from $30.00) on shares of MGM Growth Properties in a report on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. MGM Growth Properties currently has a consensus rating of “Buy” and an average target price of $31.56.
Institutional investors have recently bought and sold shares of the business. Winslow Evans & Crocker Inc. acquired a new stake in MGM Growth Properties in the third quarter valued at $177,000. BB&T Securities LLC purchased a new stake in shares of MGM Growth Properties in the second quarter valued at $210,000. Bray Capital Advisors purchased a new stake in shares of MGM Growth Properties in the second quarter valued at $213,000. SG Americas Securities LLC purchased a new stake in shares of MGM Growth Properties in the first quarter valued at $248,000. Finally, M&R Capital Management Inc. lifted its position in shares of MGM Growth Properties by 8.5% in the second quarter. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider’s stock valued at $258,000 after acquiring an additional 680 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.
Shares of MGM Growth Properties (MGP) traded down $0.08 during mid-day trading on Monday, reaching $29.42. The company had a trading volume of 207,530 shares, compared to its average volume of 791,142. MGM Growth Properties has a 52-week low of $23.63 and a 52-week high of $31.83. The firm has a market capitalization of $2,035.04, a price-to-earnings ratio of 15.01, a PEG ratio of 0.88 and a beta of -1.42. The company has a debt-to-equity ratio of 0.65, a current ratio of 14.43 and a quick ratio of 14.43.
The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.395 dividend. This represents a $1.58 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Thursday, September 28th. MGM Growth Properties’s dividend payout ratio (DPR) is 205.20%.
MGM Growth Properties Company Profile
MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.
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