MGP Ingredients (MGPI) to Release Earnings on Thursday

MGP Ingredients (NASDAQ:MGPI) is set to announce its earnings results 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 are interested in registering for the company’s conference call can do so using this link.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.26. The firm had revenue of $214.90 million for the quarter, compared to the consensus estimate of $206.87 million. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. MGP Ingredients’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS. 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 Trading Down 2.1 %

Shares of NASDAQ:MGPI opened at $77.90 on Thursday. The company has a market cap of $1.71 billion, a PE ratio of 16.23, a P/E/G ratio of 1.18 and a beta of 0.76. The company’s 50-day moving average price is $83.05 and its 200 day moving average price is $89.79. MGP Ingredients has a fifty-two week low of $75.78 and a fifty-two week high of $124.96. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.12 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.48 annualized dividend and a yield of 0.62%. MGP Ingredients’s dividend payout ratio is presently 10.00%.

Insiders Place Their Bets

In related news, VP Erika Lapish purchased 500 shares of the company’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the transaction, the vice president now owns 550 shares of the company’s stock, valued at $42,823. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 28.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MGPI shares. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a research report on Wednesday, April 10th.

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.