MGP Ingredients (NASDAQ:MGPI) released its earnings results on Wednesday. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.06, Briefing.com reports. MGP Ingredients had a net margin of 9.94% and a return on equity of 17.78%. The company had revenue of $92.50 million for the quarter, compared to the consensus estimate of $91.54 million. During the same quarter in the previous year, the company earned $0.69 EPS. MGP Ingredients’s quarterly revenue was down 11.8% compared to the same quarter last year. MGP Ingredients updated its FY 2020
Pre-Market guidance to 2.03-2.13 EPS and its FY20 guidance to $2.03-2.13 EPS.
Shares of MGPI stock opened at $28.42 on Thursday. The firm has a market capitalization of $532.02 million, a PE ratio of 12.92 and a beta of 1.63. The firm has a fifty day simple moving average of $37.43 and a two-hundred day simple moving average of $45.27. The company has a current ratio of 5.00, a quick ratio of 1.41 and a debt-to-equity ratio of 0.20. MGP Ingredients has a 12 month low of $28.37 and a 12 month high of $100.00.
A number of research firms recently issued reports on MGPI. SunTrust Banks reiterated a “hold” rating and set a $45.00 target price on shares of MGP Ingredients in a research report on Tuesday, January 28th. Craig Hallum downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their target price for the company from $90.00 to $40.00 in a research report on Tuesday, January 21st. BidaskClub downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Zacks Investment Research downgraded shares of MGP Ingredients from a “hold” rating to a “strong sell” rating in a research report on Friday, January 31st. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $48.67.
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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