Q3 EPS Estimates for MGP Ingredients Reduced by Roth Capital

MGP Ingredients, Inc. (NASDAQ:MGPI) – Equities researchers at Roth Capital cut their Q3 2024 EPS estimates for shares of MGP Ingredients in a research note issued to investors on Friday, October 18th. Roth Capital analyst S. Mcgowan now forecasts that the company will earn $1.24 per share for the quarter, down from their prior forecast of $1.46. The consensus estimate for MGP Ingredients’ current full-year earnings is $6.25 per share. Roth Capital also issued estimates for MGP Ingredients’ Q1 2026 earnings at $1.46 EPS and Q2 2026 earnings at $1.82 EPS.

Several other research analysts have also recently commented on MGPI. Roth Mkm decreased their target price on shares of MGP Ingredients from $92.00 to $88.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Loop Capital set a $75.00 target price on shares of MGP Ingredients in a research note on Friday. StockNews.com lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Monday. Lake Street Capital downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and reduced their price target for the company from $135.00 to $75.00 in a research report on Friday, October 18th. Finally, Truist Financial cut their target price on shares of MGP Ingredients from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $88.60.

MGP Ingredients Price Performance

Shares of NASDAQ:MGPI opened at $57.50 on Monday. MGP Ingredients has a fifty-two week low of $56.50 and a fifty-two week high of $102.42. The company has a quick ratio of 2.22, a current ratio of 6.44 and a debt-to-equity ratio of 0.34. The company has a market cap of $1.27 billion, a PE ratio of 13.28, a P/E/G ratio of 1.16 and a beta of 0.59. The firm has a 50-day simple moving average of $83.10 and a 200 day simple moving average of $79.78.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.17. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The business had revenue of $190.80 million during the quarter, compared to the consensus estimate of $189.06 million. During the same quarter in the prior year, the firm earned $1.49 EPS. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.12 per share. The ex-dividend date was Friday, August 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.83%. MGP Ingredients’s payout ratio is 11.09%.

Insider Transactions at MGP Ingredients

In related news, Director Karen Seaberg sold 1,109 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total transaction of $99,965.26. Following the completion of the sale, the director now directly owns 134,969 shares of the company’s stock, valued at $12,166,105.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 36.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On MGP Ingredients

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in MGP Ingredients by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 1,126,323 shares of the company’s stock worth $110,965,000 after purchasing an additional 31,839 shares during the last quarter. Diversified Trust Co raised its position in shares of MGP Ingredients by 60.0% in the first quarter. Diversified Trust Co now owns 11,600 shares of the company’s stock valued at $999,000 after purchasing an additional 4,350 shares during the period. Congress Wealth Management LLC DE raised its position in shares of MGP Ingredients by 41.9% in the first quarter. Congress Wealth Management LLC DE now owns 50,263 shares of the company’s stock valued at $4,329,000 after purchasing an additional 14,843 shares during the period. Norden Group LLC bought a new position in shares of MGP Ingredients in the first quarter valued at about $261,000. Finally, Peterson Wealth Services raised its position in shares of MGP Ingredients by 223.2% in the first quarter. Peterson Wealth Services now owns 7,237 shares of the company’s stock valued at $623,000 after purchasing an additional 4,998 shares during the period. Institutional investors own 77.11% 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.