$0.53 EPS Expected for MGM Growth Properties LLC (MGP) This Quarter

Brokerages expect that MGM Growth Properties LLC (NYSE:MGP) will report $0.53 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for MGM Growth Properties’ earnings. MGM Growth Properties posted earnings of $0.21 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 152.4%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 15th.

According to Zacks, analysts expect that MGM Growth Properties will report full year earnings of $1.97 per share for the current financial year, with EPS estimates ranging from $1.90 to $2.01. For the next fiscal year, analysts forecast that the company will report earnings of $2.18 per share. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for MGM Growth Properties.

A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Saturday, September 16th. Deutsche Bank AG boosted their target price on shares of MGM Growth Properties from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of MGM Growth Properties in a research report on Thursday, August 10th. Morgan Stanley boosted their target price on shares of MGM Growth Properties from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Finally, UBS AG reissued a “buy” rating and set a $33.00 target price (up previously from $30.00) on shares of MGM Growth Properties in a research report on Wednesday, September 6th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $31.67.

A number of hedge funds and other institutional investors have recently bought and sold shares of MGP. Winslow Evans & Crocker Inc. bought a new stake in MGM Growth Properties in the third quarter valued at about $177,000. BB&T Securities LLC bought a new stake in MGM Growth Properties during the second quarter worth about $210,000. Bray Capital Advisors bought a new stake in MGM Growth Properties during the second quarter worth about $213,000. M&R Capital Management Inc. grew its stake in MGM Growth Properties by 8.5% during the second quarter. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider’s stock worth $258,000 after buying an additional 680 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in MGM Growth Properties by 932.0% during the third quarter. Envestnet Asset Management Inc. now owns 9,288 shares of the financial services provider’s stock worth $281,000 after buying an additional 8,388 shares during the last quarter. 98.70% of the stock is currently owned by institutional investors and hedge funds.

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MGM Growth Properties (NYSE:MGP) traded up $0.17 during trading on Friday, hitting $29.32. 1,007,372 shares of the stock traded hands, compared to its average volume of 619,674. The company has a debt-to-equity ratio of 0.67, a quick ratio of 28.86 and a current ratio of 28.86. MGM Growth Properties has a fifty-two week low of $23.66 and a fifty-two week high of $31.83. The stock has a market cap of $2,078.69, a PE ratio of 14.88, a P/E/G ratio of 0.87 and a beta of -1.42.

About MGM Growth Properties

MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.

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Earnings History and Estimates for MGM Growth Properties (NYSE:MGP)

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