FY2024 EPS Forecast for MGP Ingredients Lowered by Analyst

MGP Ingredients, Inc. (NASDAQ:MGPI) – Stock analysts at Roth Capital lowered their FY2024 earnings per share (EPS) estimates for MGP Ingredients in a report released on Monday, December 23rd. Roth Capital analyst S. Mcgowan now expects that the company will earn $5.54 per share for the year, down from their previous estimate of $5.55. The consensus estimate for MGP Ingredients’ current full-year earnings is $5.57 per share. Roth Capital also issued estimates for MGP Ingredients’ Q1 2026 earnings at $0.82 EPS.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. The company had revenue of $161.50 million for the quarter, compared to analysts’ expectations of $161.55 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The business’s quarterly revenue was down 23.7% compared to the same quarter last year. During the same period last year, the firm posted $1.34 earnings per share.

A number of other analysts have also recently issued reports on MGPI. TD Cowen cut MGP Ingredients from a “buy” rating to a “hold” rating and lowered their target price for the stock from $66.00 to $50.00 in a research note on Wednesday, November 6th. Lake Street Capital lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $135.00 to $75.00 in a report on Friday, October 18th. Truist Financial decreased their target price on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Loop Capital set a $75.00 price target on MGP Ingredients in a research note on Friday, October 18th. Finally, StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.83.

MGP Ingredients Trading Down 0.4 %

NASDAQ MGPI opened at $39.85 on Tuesday. MGP Ingredients has a one year low of $38.65 and a one year high of $102.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The firm has a market cap of $874.83 million, a P/E ratio of 8.28, a P/E/G ratio of 0.74 and a beta of 0.63. The stock’s 50-day moving average is $50.51 and its 200-day moving average is $70.16.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, November 15th. MGP Ingredients’s dividend payout ratio is presently 9.98%.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Lori L.S. Mingus sold 7,050 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.03, for a total value of $324,511.50. Following the completion of the transaction, the director now owns 37,373 shares of the company’s stock, valued at $1,720,279.19. This represents a 15.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 36.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MGP Ingredients

Several hedge funds have recently added to or reduced their stakes in MGPI. FMR LLC lifted its holdings in MGP Ingredients by 14.2% during the 3rd quarter. FMR LLC now owns 1,102,985 shares of the company’s stock worth $91,824,000 after buying an additional 137,292 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of MGP Ingredients by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 790,339 shares of the company’s stock worth $58,801,000 after acquiring an additional 68,278 shares during the period. State Street Corp boosted its holdings in MGP Ingredients by 22.4% in the third quarter. State Street Corp now owns 717,675 shares of the company’s stock valued at $59,746,000 after acquiring an additional 131,542 shares during the last quarter. Ariel Investments LLC boosted its holdings in MGP Ingredients by 92.7% in the second quarter. Ariel Investments LLC now owns 515,796 shares of the company’s stock valued at $38,375,000 after acquiring an additional 248,076 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in MGP Ingredients by 67.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 495,622 shares of the company’s stock valued at $41,261,000 after purchasing an additional 199,550 shares during the period. 77.11% of the stock is currently owned by institutional investors and hedge funds.

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.