Brokerages expect MGP Ingredients, Inc. (NASDAQ:MGPI) to post sales of $85.59 million for the current quarter, according to Zacks. Three analysts have issued estimates for MGP Ingredients’ earnings. The lowest sales estimate is $84.90 million and the highest is $86.61 million. MGP Ingredients posted sales of $85.01 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.7%. The company is scheduled to issue its next earnings report on Wednesday, March 14th.

According to Zacks, analysts expect that MGP Ingredients will report full-year sales of $85.59 million for the current financial year, with estimates ranging from $344.20 million to $345.87 million. For the next fiscal year, analysts expect that the firm will post sales of $365.39 million per share, with estimates ranging from $362.30 million to $368.51 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover MGP Ingredients.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.45. The business had revenue of $86.30 million during the quarter, compared to the consensus estimate of $83.57 million. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company earned $0.55 earnings per share.

Several brokerages have weighed in on MGPI. Stifel Nicolaus began coverage on MGP Ingredients in a report on Tuesday, December 5th. They issued a “hold” rating and a $73.00 price target for the company. BidaskClub downgraded MGP Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Investment Research raised MGP Ingredients from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a report on Tuesday, November 7th. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of MGP Ingredients in a report on Friday, November 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. MGP Ingredients presently has a consensus rating of “Buy” and a consensus price target of $71.75.

Shares of MGP Ingredients (MGPI) opened at $74.01 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 4.45 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1,233.62, a PE ratio of 42.64, a price-to-earnings-growth ratio of 2.24 and a beta of 0.95. MGP Ingredients has a twelve month low of $41.16 and a twelve month high of $78.02.

The company also recently announced a quarterly dividend, which was paid on Friday, December 8th. Investors of record on Tuesday, November 14th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Monday, November 13th. MGP Ingredients’s dividend payout ratio (DPR) is 7.37%.

In related news, Director Karen Seaberg sold 2,492 shares of MGP Ingredients stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $73.05, for a total transaction of $182,040.60. Following the completion of the transaction, the director now directly owns 10,591 shares in the company, valued at $773,672.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daryl Schaller sold 20,000 shares of MGP Ingredients stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $72.58, for a total value of $1,451,600.00. Following the transaction, the director now owns 2,851 shares of the company’s stock, valued at $206,925.58. The disclosure for this sale can be found here. Insiders have sold 27,797 shares of company stock valued at $1,973,320 in the last ninety days. Corporate insiders own 23.50% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MGPI. Teachers Advisors LLC raised its position in MGP Ingredients by 2.2% during the first quarter. Teachers Advisors LLC now owns 22,829 shares of the company’s stock valued at $1,238,000 after acquiring an additional 496 shares in the last quarter. Vanguard Group Inc. raised its position in MGP Ingredients by 11.4% during the first quarter. Vanguard Group Inc. now owns 507,767 shares of the company’s stock valued at $27,536,000 after acquiring an additional 51,902 shares in the last quarter. Renaissance Technologies LLC purchased a new position in MGP Ingredients during the first quarter valued at approximately $2,511,000. Schwab Charles Investment Management Inc. raised its position in MGP Ingredients by 39.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 58,749 shares of the company’s stock valued at $3,186,000 after acquiring an additional 16,607 shares in the last quarter. Finally, Aperio Group LLC purchased a new position in MGP Ingredients during the second quarter valued at approximately $240,000.

TRADEMARK VIOLATION WARNING: “MGP Ingredients, Inc. (MGPI) Expected to Announce Quarterly Sales of $85.59 Million” was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another website, it was illegally copied and reposted in violation of US & international copyright and trademark law. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/12/12/mgp-ingredients-inc-mgpi-expected-to-announce-quarterly-sales-of-85-59-million.html.

MGP Ingredients Company Profile

MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.

Get a free copy of the Zacks research report on MGP Ingredients (MGPI)

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

Earnings History and Estimates for MGP Ingredients (NASDAQ:MGPI)

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