MGP Ingredients (MGPI) Scheduled to Post Earnings on Thursday

MGP Ingredients (NASDAQ:MGPI) is set to release its earnings data before the market opens on Thursday, October 31st. Analysts expect MGP Ingredients to post earnings of $1.35 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.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.17. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. The business had revenue of $190.80 million during the quarter, compared to analysts’ expectations of $189.06 million. During the same period in the prior year, the business earned $1.49 EPS. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, analysts expect MGP Ingredients to post $6 EPS for the current fiscal year and $5 EPS for the next fiscal year.

MGP Ingredients Price Performance

MGPI opened at $56.65 on Wednesday. The company has a current ratio of 6.44, a quick ratio of 2.22 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $80.12 and its 200-day simple moving average is $79.01. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 0.93 and a beta of 0.59. MGP Ingredients has a 12-month low of $56.35 and a 12-month high of $102.42.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Friday, August 16th. MGP Ingredients’s payout ratio is 11.11%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MGPI shares. Loop Capital set a $75.00 price target on shares of MGP Ingredients in a research report on Friday, October 18th. Lake Street Capital lowered MGP Ingredients from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $75.00 in a report on Friday, October 18th. StockNews.com downgraded MGP Ingredients from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Roth Mkm decreased their price objective on MGP Ingredients from $92.00 to $88.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Truist Financial dropped their price objective on MGP Ingredients from $95.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, MGP Ingredients currently has a consensus rating of “Hold” and a consensus target price of $88.60.

Insider Transactions at MGP Ingredients

In other news, Director Karen Seaberg sold 12,092 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $90.65, for a total value of $1,096,139.80. Following the completion of the sale, the director now owns 54,542 shares of the company’s stock, valued at $4,944,232.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.