MGP Ingredients (MGPI) to Release Earnings on Thursday

MGP Ingredients (NASDAQ:MGPI) is scheduled to post its quarterly earnings results before the market opens on Thursday, May 2nd. Analysts expect MGP Ingredients to post 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results 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 business 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%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 earnings per share. 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 Stock Down 2.1 %

MGPI stock opened at $77.90 on Thursday. The company has a market cap of $1.71 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.18 and a beta of 0.76. MGP Ingredients has a 52 week low of $75.78 and a 52 week high of $124.96. The company’s 50-day moving average price is $83.05 and its 200 day moving average price is $89.79. The company has a current ratio of 4.51, a quick ratio of 1.47 and a debt-to-equity ratio of 0.33.

MGP Ingredients Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wedbush reissued an “outperform” rating and set a $120.00 price objective on shares of MGP Ingredients in a report on Wednesday, April 10th. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Thursday, April 18th.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, VP Erika Lapish purchased 500 shares of MGP Ingredients stock in a transaction on Monday, February 26th. The shares were bought at an average price of $77.86 per share, with a total value of $38,930.00. Following the completion of the acquisition, the vice president now directly owns 550 shares of the company’s stock, valued at $42,823. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 28.70% of the company’s stock.

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.