MGP Ingredients FY2024 EPS Forecast Reduced by Roth Capital

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

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

MGP Ingredients Stock Performance

Shares of NASDAQ MGPI opened at $39.85 on Tuesday. The stock has a market cap of $874.83 million, a price-to-earnings ratio of 8.28, a PEG ratio of 0.74 and a beta of 0.63. MGP Ingredients has a 12 month low of $38.65 and a 12 month high of $102.42. The company has a 50 day simple moving average of $48.90 and a two-hundred day simple moving average of $69.72. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31.

MGP Ingredients Dividend Announcement

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

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of MGP Ingredients during the second quarter valued at approximately $42,000. Farther Finance Advisors LLC increased its position in shares of MGP Ingredients by 45.3% during the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $50,000 after purchasing an additional 186 shares in the last quarter. First Horizon Advisors Inc. raised its stake in MGP Ingredients by 73.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock valued at $63,000 after purchasing an additional 322 shares during the last quarter. Point72 DIFC Ltd lifted its holdings in MGP Ingredients by 2,375.6% in the 3rd quarter. Point72 DIFC Ltd now owns 1,015 shares of the company’s stock valued at $84,000 after purchasing an additional 974 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in MGP Ingredients in the 2nd quarter valued at $82,000. Institutional investors and hedge funds 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.