MGP Ingredients (NASDAQ:MGPI – Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.12-6.23 for the period, compared to the consensus EPS estimate of $6.16. The company issued revenue guidance of $742-756 million, compared to the consensus revenue estimate of $754.65 million.
MGP Ingredients Stock Down 2.0 %
Shares of MGP Ingredients stock opened at $80.62 on Friday. The company has a current ratio of 6.32, a quick ratio of 1.47 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $81.84 and its 200-day simple moving average is $88.69. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.19 and a beta of 0.75. MGP Ingredients has a twelve month low of $75.78 and a twelve month high of $124.96.
MGP Ingredients (NASDAQ:MGPI – Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. MGP Ingredients had a return on equity of 14.78% and a net margin of 11.91%. The business had revenue of $170.56 million during the quarter, compared to analyst estimates of $170.31 million. During the same period in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. Equities research analysts forecast that MGP Ingredients will post 6.18 earnings per share for the current year.
MGP Ingredients Announces Dividend
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on MGPI. StockNews.com lowered MGP Ingredients from a hold rating to a sell rating in a report on Friday, April 26th. Roth Mkm decreased their price objective on MGP Ingredients from $95.00 to $92.00 and set a buy rating for the company in a report on Friday. Finally, Wedbush reaffirmed an outperform rating and set a $120.00 price target on shares of MGP Ingredients in a research note on Monday, April 29th.
Check Out Our Latest Report on MGP Ingredients
Insider Buying and Selling at MGP Ingredients
In other news, VP Erika Lapish purchased 500 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was purchased at an average cost of $77.86 per share, with a total value of $38,930.00. Following the purchase, the vice president now owns 550 shares in the company, valued at approximately $42,823. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 36.20% of the stock is currently owned by corporate insiders.
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.
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