$0.58 EPS Expected for MGM Growth Properties LLC (NYSE:MGP) This Quarter

Equities research analysts expect MGM Growth Properties LLC (NYSE:MGP) to report $0.58 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for MGM Growth Properties’ earnings. The lowest EPS estimate is $0.55 and the highest is $0.59. MGM Growth Properties posted earnings of $0.57 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.8%. The firm is scheduled to report its next earnings report on Thursday, February 13th.

On average, analysts expect that MGM Growth Properties will report full-year earnings of $2.25 per share for the current financial year, with EPS estimates ranging from $2.00 to $2.34. For the next year, analysts expect that the business will report earnings of $2.31 per share, with EPS estimates ranging from $2.09 to $2.47. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last issued its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.35). MGM Growth Properties had a return on equity of 1.31% and a net margin of 8.24%. The company had revenue of $226.01 million for the quarter, compared to the consensus estimate of $227.29 million. During the same quarter in the previous year, the company earned $0.49 earnings per share. MGM Growth Properties’s quarterly revenue was up 4.3% compared to the same quarter last year.

Several equities analysts have recently commented on MGP shares. TheStreet upgraded shares of MGM Growth Properties from a “c-” rating to a “b-” rating in a research report on Wednesday, October 2nd. Nomura reaffirmed a “buy” rating and issued a $39.00 price objective on shares of MGM Growth Properties in a report on Thursday, August 8th. ValuEngine upgraded shares of MGM Growth Properties from a “sell” rating to a “hold” rating in a research report on Wednesday. Evercore ISI reissued a “buy” rating and set a $37.00 target price on shares of MGM Growth Properties in a research note on Monday, November 11th. Finally, Macquarie assumed coverage on shares of MGM Growth Properties in a research note on Thursday, October 24th. They set an “outperform” rating and a $35.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. MGM Growth Properties currently has a consensus rating of “Buy” and a consensus target price of $34.50.

MGP stock traded down $0.21 during mid-day trading on Friday, reaching $29.86. The company had a trading volume of 2,055,100 shares, compared to its average volume of 912,679. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $2.88 billion, a P/E ratio of 13.39, a P/E/G ratio of 8.52 and a beta of 0.47. MGM Growth Properties has a one year low of $25.50 and a one year high of $33.30. The stock’s 50-day simple moving average is $31.19 and its two-hundred day simple moving average is $30.63.

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in shares of MGM Growth Properties during the first quarter valued at $170,000. AE Wealth Management LLC acquired a new position in MGM Growth Properties during the 2nd quarter valued at about $265,000. Duncker Streett & Co. Inc. acquired a new position in MGM Growth Properties during the 2nd quarter valued at about $37,000. HGI Capital Management LLC acquired a new position in MGM Growth Properties during the 2nd quarter valued at about $1,616,000. Finally, Kayne Anderson Capital Advisors LP bought a new stake in shares of MGM Growth Properties during the 2nd quarter worth about $450,000. Institutional investors own 95.90% of the company’s stock.

About MGM Growth Properties

MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings.

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