Wall Street analysts expect MGP Ingredients Inc (NASDAQ:MGPI) to post earnings per share (EPS) of $0.50 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for MGP Ingredients’ earnings, with the lowest EPS estimate coming in at $0.47 and the highest estimate coming in at $0.53. MGP Ingredients posted earnings per share of $0.52 during the same quarter last year, which indicates a negative year-over-year growth rate of 3.8%. The company is expected to issue its next quarterly earnings report on Wednesday, May 1st.
On average, analysts expect that MGP Ingredients will report full year earnings of $2.61 per share for the current financial year, with EPS estimates ranging from $2.60 to $2.62. For the next fiscal year, analysts forecast that the company will post earnings of $3.03 per share, with EPS estimates ranging from $2.88 to $3.18. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow MGP Ingredients.
MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Wednesday, February 27th. The company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.13. MGP Ingredients had a return on equity of 19.68% and a net margin of 9.81%. The company had revenue of $104.85 million during the quarter, compared to the consensus estimate of $99.77 million. During the same quarter last year, the firm earned $0.74 earnings per share. The company’s revenue was up 18.9% on a year-over-year basis.
In other MGP Ingredients news, VP David E. Dykstra sold 5,000 shares of MGP Ingredients stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $82.18, for a total value of $410,900.00. Following the transaction, the vice president now owns 29,396 shares in the company, valued at $2,415,763.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Seaberg sold 1,546 shares of MGP Ingredients stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $77.75, for a total value of $120,201.50. Following the completion of the transaction, the director now owns 12,682 shares in the company, valued at approximately $986,025.50. The disclosure for this sale can be found here. 22.19% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in MGP Ingredients by 4.0% in the fourth quarter. Victory Capital Management Inc. now owns 4,236 shares of the company’s stock valued at $242,000 after acquiring an additional 164 shares during the last quarter. First Hawaiian Bank grew its position in MGP Ingredients by 74.2% in the first quarter. First Hawaiian Bank now owns 472 shares of the company’s stock valued at $36,000 after acquiring an additional 201 shares during the last quarter. Texas Permanent School Fund grew its position in MGP Ingredients by 4.0% in the fourth quarter. Texas Permanent School Fund now owns 8,273 shares of the company’s stock valued at $472,000 after acquiring an additional 322 shares during the last quarter. Bank of Montreal Can grew its position in MGP Ingredients by 437.4% in the fourth quarter. Bank of Montreal Can now owns 489 shares of the company’s stock valued at $28,000 after acquiring an additional 398 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in MGP Ingredients by 8.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 7,243 shares of the company’s stock valued at $413,000 after acquiring an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 98.10% of the company’s stock.
MGPI opened at $82.87 on Thursday. MGP Ingredients has a fifty-two week low of $53.66 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 4.13 and a quick ratio of 1.22. The firm has a market cap of $1.36 billion, a PE ratio of 38.19 and a beta of 1.56.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Wednesday, March 13th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Tuesday, March 12th. This is an increase from MGP Ingredients’s previous quarterly dividend of $0.08. 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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