Zacks: Brokerages Expect MGM Growth Properties LLC (MGP) to Post $0.53 Earnings Per Share
Equities analysts expect that MGM Growth Properties LLC (NYSE:MGP) will post earnings per share (EPS) of $0.53 for the current quarter, according to Zacks. Three analysts have made estimates for MGM Growth Properties’ earnings. MGM Growth Properties posted earnings per share of $0.21 in the same quarter last year, which would suggest a positive year-over-year growth rate of 152.4%. The firm is scheduled to issue its next earnings results on Thursday, February 15th.
On average, analysts expect that MGM Growth Properties will report full-year earnings of $1.97 per share for the current financial year, with EPS estimates ranging from $1.90 to $2.01. For the next year, analysts expect that the business will post earnings of $2.18 per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for MGM Growth Properties.
Several analysts have recently issued reports on the stock. SunTrust Banks reissued a “buy” rating and set a $31.00 price objective on shares of MGM Growth Properties in a research note on Friday, November 10th. ValuEngine raised shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Morgan Stanley boosted their price objective on shares of MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Finally, Bank of America reissued a “buy” rating and set a $34.00 price objective (up from $32.00) on shares of MGM Growth Properties in a research note on Friday, September 8th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. MGM Growth Properties has an average rating of “Buy” and a consensus target price of $31.67.
Institutional investors have recently made changes to their positions in the stock. Winslow Evans & Crocker Inc. acquired a new position in MGM Growth Properties in the 3rd quarter worth $177,000. BB&T Securities LLC acquired a new position in MGM Growth Properties in the 2nd quarter worth $210,000. M&R Capital Management Inc. lifted its holdings in MGM Growth Properties by 8.5% in the 2nd quarter. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider’s stock worth $258,000 after buying an additional 680 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in MGM Growth Properties by 932.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 9,288 shares of the financial services provider’s stock worth $281,000 after buying an additional 8,388 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in MGM Growth Properties in the 3rd quarter worth $285,000.
Shares of MGM Growth Properties (NYSE:MGP) traded up $0.18 during midday trading on Thursday, hitting $29.02. 551,874 shares of the stock traded hands, compared to its average volume of 575,620. MGM Growth Properties has a one year low of $24.07 and a one year high of $31.83. The stock has a market cap of $7,400.00 and a PE ratio of 14.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 28.86 and a quick ratio of 28.86.
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About MGM Growth Properties
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.
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