MGP Ingredients (MGPI) Scheduled to Post Quarterly Earnings on Thursday

MGP Ingredients (NASDAQ:MGPI) is scheduled to post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect MGP Ingredients to post 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The company had revenue of $214.90 million for the quarter, compared to analysts’ expectations of $206.87 million. During the same period in the previous year, the company posted $1.01 EPS. MGP Ingredients’s revenue was up 12.6% compared to the same quarter last year. 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 Performance

NASDAQ:MGPI opened at $81.54 on Tuesday. The company has a quick ratio of 1.47, a current ratio of 4.51 and a debt-to-equity ratio of 0.33. MGP Ingredients has a fifty-two week low of $75.78 and a fifty-two week high of $124.96. The stock has a market cap of $1.79 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 1.19 and a beta of 0.76. The firm’s fifty day simple moving average is $82.28 and its 200-day simple moving average is $89.19.

MGP Ingredients Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.59%. MGP Ingredients’s dividend payout ratio (DPR) is presently 10.00%.

Wall Street Analysts Forecast Growth

MGPI has been the topic of a number of research reports. StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday. Wedbush reissued an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a research note on Monday. Finally, Roth Mkm lowered their price objective on shares of MGP Ingredients from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, VP Erika Lapish acquired 500 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of $77.86 per share, with a total value of $38,930.00. Following the purchase, the vice president now owns 550 shares in the company, valued at $42,823. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 36.20% of the stock is owned by corporate insiders.

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.