Brokerages Expect MGM Growth Properties (MGP) to Post $0.53 EPS

Analysts predict that MGM Growth Properties (NYSE:MGP) will announce earnings per share (EPS) of $0.53 for the current quarter, Zacks reports. Three analysts have made estimates for MGM Growth Properties’ earnings. The lowest EPS estimate is $0.52 and the highest is $0.53. MGM Growth Properties reported earnings of $0.49 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that MGM Growth Properties will report full-year earnings of $2.14 per share for the current fiscal year. For the next year, analysts forecast that the company will post earnings of $2.13 per share, with EPS estimates ranging from $2.00 to $2.19. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow MGM Growth Properties.

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MGM Growth Properties (NYSE:MGP) last posted its earnings results on Tuesday, February 20th. The financial services provider reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). The company had revenue of $214.50 million for the quarter, compared to analysts’ expectations of $207.74 million. MGM Growth Properties had a net margin of 5.46% and a return on equity of 0.73%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.47 EPS.

MGP has been the subject of a number of recent analyst reports. Zacks Investment Research raised MGM Growth Properties from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, January 4th. Ladenburg Thalmann set a $35.00 target price on MGM Growth Properties and gave the company a “buy” rating in a report on Wednesday, January 17th. Morgan Stanley started coverage on MGM Growth Properties in a report on Thursday, February 15th. They set an “equal weight” rating and a $29.00 price objective for the company. JPMorgan Chase reissued an “overweight” rating and set a $31.00 price objective (down previously from $33.00) on shares of MGM Growth Properties in a report on Wednesday, February 21st. Finally, Bank of America cut their price objective on MGM Growth Properties from $34.00 to $29.00 and set a “buy” rating for the company in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. MGM Growth Properties has an average rating of “Buy” and a consensus target price of $31.44.

MGP stock opened at $26.44 on Thursday. The company has a quick ratio of 8.11, a current ratio of 8.11 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1,874.52, a price-to-earnings ratio of 13.22, a P/E/G ratio of 0.72 and a beta of -0.45. MGM Growth Properties has a twelve month low of $25.31 and a twelve month high of $31.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Friday, March 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.35%. The ex-dividend date is Wednesday, March 28th. MGM Growth Properties’s payout ratio is 83.58%.

In other MGM Growth Properties news, Director Robert W. Smith acquired 1,500 shares of the business’s stock in a transaction dated Monday, March 5th. The stock was bought at an average price of $26.53 per share, with a total value of $39,795.00. Following the completion of the acquisition, the director now owns 6,819 shares of the company’s stock, valued at $180,908.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MGP. State Street Corp grew its holdings in shares of MGM Growth Properties by 7.3% during the second quarter. State Street Corp now owns 66,740 shares of the financial services provider’s stock worth $1,949,000 after purchasing an additional 4,522 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in MGM Growth Properties in the third quarter worth approximately $6,093,000. Schroder Investment Management Group purchased a new stake in MGM Growth Properties in the third quarter worth approximately $1,610,000. Wells Fargo & Company MN boosted its stake in MGM Growth Properties by 1,579.3% in the third quarter. Wells Fargo & Company MN now owns 426,354 shares of the financial services provider’s stock worth $12,881,000 after buying an additional 400,965 shares in the last quarter. Finally, BB&T Securities LLC boosted its stake in MGM Growth Properties by 343.6% in the third quarter. BB&T Securities LLC now owns 31,942 shares of the financial services provider’s stock worth $965,000 after buying an additional 24,742 shares in the last quarter.

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

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