Roth Capital Reduces Earnings Estimates for MGP Ingredients

MGP Ingredients, Inc. (NASDAQ:MGPI) – Investment analysts at Roth Capital cut their FY2024 earnings per share estimates for shares of MGP Ingredients in a research note issued on Monday, December 23rd. Roth Capital analyst S. Mcgowan now expects that the company will post earnings of $5.54 per share for the year, down from their previous forecast 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 posted its earnings results on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The firm had revenue of $161.50 million during the quarter, compared to analysts’ expectations of $161.55 million. During the same period in the previous year, the company earned $1.34 earnings per share. The company’s revenue was down 23.7% compared to the same quarter last year.

Several other research firms have also weighed in on MGPI. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Loop Capital set a $75.00 price objective on MGP Ingredients in a research note on Friday, October 18th. Roth Mkm decreased their target price on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday. Lake Street Capital lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their price target for the company from $135.00 to $75.00 in a research report on Friday, October 18th. Finally, TD Cowen cut shares of MGP Ingredients from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $66.00 to $50.00 in a research note on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.83.

MGP Ingredients Price Performance

MGPI stock opened at $39.85 on Tuesday. The firm has a market cap of $874.83 million, a PE ratio of 8.28, a PEG ratio of 0.74 and a beta of 0.63. MGP Ingredients has a 1 year low of $38.65 and a 1 year high of $102.42. The company has a fifty day simple moving average of $49.71 and a 200 day simple moving average of $69.93. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31.

Institutional Trading of MGP Ingredients

A number of institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA bought a new stake in MGP Ingredients in the second quarter valued at about $22,028,000. Ariel Investments LLC raised its holdings in shares of MGP Ingredients by 92.7% in the 2nd quarter. Ariel Investments LLC now owns 515,796 shares of the company’s stock worth $38,375,000 after buying an additional 248,076 shares in the last quarter. FMR LLC grew its position in MGP Ingredients by 14.2% in the third quarter. FMR LLC now owns 1,102,985 shares of the company’s stock valued at $91,824,000 after acquiring an additional 137,292 shares during the period. State Street Corp raised its stake in MGP Ingredients by 22.4% during the third quarter. State Street Corp now owns 717,675 shares of the company’s stock worth $59,746,000 after acquiring an additional 131,542 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new position in shares of MGP Ingredients during the third quarter valued at $6,777,000. 77.11% of the stock is currently owned by institutional investors.

Insider Transactions at MGP Ingredients

In related news, Director Lori L.S. Mingus sold 7,050 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.03, for a total transaction of $324,511.50. Following the transaction, the director now directly owns 37,373 shares in the company, valued at $1,720,279.19. The trade was a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 36.20% of the stock is currently owned by corporate insiders.

MGP Ingredients Announces Dividend

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

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.