MGP Ingredients (NASDAQ:MGPI) Issues FY19 Earnings Guidance

MGP Ingredients (NASDAQ:MGPI) issued an update on its FY19 earnings guidance on Friday morning. The company provided EPS guidance of $2.20-2.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.58. The company issued revenue guidance of ~$362 million, compared to the consensus revenue estimate of $391.17 million.

Shares of NASDAQ:MGPI opened at $52.78 on Friday. The company has a market capitalization of $903.02 million, a price-to-earnings ratio of 24.32 and a beta of 1.56. MGP Ingredients has a 52 week low of $41.68 and a 52 week high of $100.00. The company has a quick ratio of 1.41, a current ratio of 5.00 and a debt-to-equity ratio of 0.20. The firm has a 50 day moving average of $47.86 and a 200 day moving average of $51.44.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.16). MGP Ingredients had a return on equity of 17.78% and a net margin of 9.94%. The firm had revenue of $90.68 million during the quarter, compared to analysts’ expectations of $99.49 million. During the same period in the prior year, the firm posted $0.52 earnings per share. MGP Ingredients’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, sell-side analysts expect that MGP Ingredients will post 2.6 EPS for the current year.

Several equities analysts have issued reports on the stock. BidaskClub raised shares of MGP Ingredients from a sell rating to a hold rating in a report on Saturday, January 11th. Zacks Investment Research raised shares of MGP Ingredients from a sell rating to a hold rating in a report on Wednesday, January 1st. Finally, ValuEngine raised shares of MGP Ingredients from a sell rating to a hold rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company. MGP Ingredients has an average rating of Hold and a consensus target price of $80.50.

About MGP Ingredients

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

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