MGP Ingredients (MGPI) to Release Quarterly Earnings on Thursday

MGP Ingredients (NASDAQ:MGPI - Get Free Report) will be posting 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 interested in registering for the company's earnings conference call can do so using this link.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.38 by $0.26. The company 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 firm's revenue was up 12.6% compared to the same quarter last year. During the same quarter 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 Stock Up 1.6 %

NASDAQ MGPI traded up $1.28 on Thursday, reaching $79.18. 220,064 shares of the stock traded hands, compared to its average volume of 208,037. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 4.51. MGP Ingredients has a 12 month low of $75.78 and a 12 month high of $124.96. The company has a fifty day moving average price of $82.89 and a 200-day moving average price of $89.71. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.17 and a beta of 0.76.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.48 annualized dividend and a yield of 0.61%. MGP Ingredients's dividend payout ratio (DPR) is 10.00%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com raised shares of MGP Ingredients from a "sell" rating to a "hold" rating in a research report on Thursday, April 18th. Roth Mkm dropped their price objective on shares of MGP Ingredients from $100.00 to $95.00 and set a "buy" rating on the stock in a report on Thursday. Finally, Wedbush reaffirmed an "outperform" rating and set a $120.00 price target on shares of MGP Ingredients in a research report on Wednesday, April 10th.

Insider Buying and Selling at MGP Ingredients

In related news, VP Erika Lapish acquired 500 shares of the stock in a transaction on Monday, February 26th. The shares were acquired at an average price of $77.86 per share, for a total transaction of $38,930.00. Following the transaction, the vice president now owns 550 shares in the company, valued at approximately $42,823. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 28.70% of the company's stock.

MGP Ingredients Company Profile

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.