MGM Growth Properties LLC (MGP) Expected to Announce Quarterly Sales of $184.12 Million

Equities analysts expect MGM Growth Properties LLC (NYSE:MGP) to report sales of $184.12 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for MGM Growth Properties’ earnings. The highest sales estimate is $186.40 million and the lowest is $181.50 million. MGM Growth Properties posted sales of $172.50 million in the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The business is expected to issue its next quarterly earnings report on Monday, November 6th.

According to Zacks, analysts expect that MGM Growth Properties will report full-year sales of $184.12 million for the current fiscal year, with estimates ranging from $734.60 million to $771.02 million. For the next year, analysts expect that the firm will post sales of $828.72 million per share, with estimates ranging from $747.40 million to $884.72 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings data on Tuesday, August 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.32). The business had revenue of $184.45 million during the quarter, compared to the consensus estimate of $184.43 million. MGM Growth Properties had a net margin of 6.21% and a return on equity of 0.81%. The business’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS.

Several research firms have recently weighed in on MGP. Barclays PLC reiterated a “buy” rating and issued a $33.00 target price on shares of MGM Growth Properties in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Thursday, September 7th. Bank of America Corporation reiterated a “buy” rating and set a $34.00 target price (up from $32.00) on shares of MGM Growth Properties in a research report on Friday, September 8th. Deutsche Bank AG lifted their target price on shares of MGM Growth Properties from $28.00 to $30.00 and gave the company a “hold” rating in a research report on Wednesday, August 9th. Finally, UBS AG restated a “buy” rating and issued a $33.00 price objective (up from $30.00) on shares of MGM Growth Properties in a report on Wednesday, September 6th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $31.86.

COPYRIGHT VIOLATION NOTICE: This article was first posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.tickerreport.com/banking-finance/2956701/mgm-growth-properties-llc-mgp-expected-to-announce-quarterly-sales-of-184-12-million.html.

Shares of MGM Growth Properties (NYSE MGP) opened at 29.62 on Friday. The firm has a 50-day moving average of $30.44 and a 200-day moving average of $30.44. The company has a market cap of $1.71 billion, a P/E ratio of 37.97 and a beta of -1.34. MGM Growth Properties has a 12-month low of $23.63 and a 12-month high of $31.83.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 5.33%. The ex-dividend date is Thursday, September 28th. MGM Growth Properties’s dividend payout ratio is currently 205.20%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MGP. Janus Henderson Group PLC increased its position in shares of MGM Growth Properties by 973.9% during the 2nd quarter. Janus Henderson Group PLC now owns 4,133,371 shares of the financial services provider’s stock valued at $120,650,000 after purchasing an additional 3,748,466 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in MGM Growth Properties by 1,350.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,209,769 shares of the financial services provider’s stock worth $64,503,000 after acquiring an additional 2,057,390 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in MGM Growth Properties by 778.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 750,219 shares of the financial services provider’s stock worth $21,878,000 after acquiring an additional 664,860 shares in the last quarter. American Century Companies Inc. increased its holdings in MGM Growth Properties by 16.3% in the 2nd quarter. American Century Companies Inc. now owns 3,862,500 shares of the financial services provider’s stock worth $112,746,000 after acquiring an additional 542,558 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in MGM Growth Properties by 1,558.5% in the 2nd quarter. Renaissance Technologies LLC now owns 537,600 shares of the financial services provider’s stock worth $15,693,000 after acquiring an additional 505,185 shares in the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.

MGM Growth Properties Company Profile

MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.

Get a free copy of the Zacks research report on MGM Growth Properties (MGP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for MGM Growth Properties (NYSE:MGP)

Receive News & Ratings for MGM Growth Properties LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties LLC and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.