MGP Ingredients (NASDAQ:MGPI – Get Free Report) is set to issue its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $1.00 per share for the quarter. MGP Ingredients has set its FY24 guidance at $6.12-$6.23 EPS and its FY 2024 guidance at 6.120-6.230 EPS.Investors that wish to listen to the company’s conference call can do so using this link.
MGP Ingredients (NASDAQ:MGPI – Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.38 by $0.26. The company had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business earned $1.01 earnings per share. On average, analysts expect MGP Ingredients to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.
MGP Ingredients Stock Up 1.2 %
MGPI stock opened at $81.54 on Tuesday. The firm has a market cap of $1.79 billion, a PE ratio of 16.99, a P/E/G ratio of 1.19 and a beta of 0.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51. The firm’s fifty day moving average is $82.28 and its 200 day moving average is $89.19. MGP Ingredients has a one year low of $75.78 and a one year high of $124.96.
MGP Ingredients Dividend Announcement
Wall Street Analysts Forecast Growth
Several analysts recently commented on MGPI shares. Roth Mkm dropped their price target on shares of MGP Ingredients from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wedbush restated an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a research report on Monday. Finally, StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday.
Check Out Our Latest Research Report on MGP Ingredients
Insider Buying and Selling at MGP Ingredients
In related news, VP Erika Lapish acquired 500 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were acquired at an average cost of $77.86 per share, with a total value of $38,930.00. Following the completion of the acquisition, the vice president now directly owns 550 shares in the company, valued at approximately $42,823. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 36.20% of the company’s stock.
About MGP Ingredients
MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.
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