Wall Street brokerages expect MGM Growth Properties LLC (NYSE:MGP) to post earnings of $0.56 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for MGM Growth Properties’ earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.51. MGM Growth Properties reported earnings of $0.53 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.7%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, April 30th.
On average, analysts expect that MGM Growth Properties will report full year earnings of $2.23 per share for the current year, with EPS estimates ranging from $2.08 to $2.34. For the next year, analysts expect that the business will report earnings of $2.29 per share, with EPS estimates ranging from $2.09 to $2.47. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for MGM Growth Properties.
MGM Growth Properties (NYSE:MGP) last released its earnings results on Thursday, February 14th. The financial services provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.33). The firm had revenue of $284.00 million during the quarter, compared to analyst estimates of $283.16 million. MGM Growth Properties had a net margin of 6.69% and a return on equity of 1.13%. The firm’s quarterly revenue was up 32.4% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share.
MGP has been the topic of several recent research reports. Robert W. Baird initiated coverage on MGM Growth Properties in a research report on Friday, January 4th. They issued an “outperform” rating and a $33.00 price target on the stock. Zacks Investment Research upgraded MGM Growth Properties from a “hold” rating to a “strong-buy” rating and set a $31.00 price target on the stock in a research report on Wednesday, January 9th. SunTrust Banks upgraded MGM Growth Properties from a “hold” rating to a “buy” rating and raised their price target for the stock from $30.00 to $32.00 in a research report on Wednesday, January 9th. Deutsche Bank restated a “hold” rating and issued a $28.00 price target on shares of MGM Growth Properties in a research report on Monday, January 28th. Finally, Nomura set a $37.00 price target on MGM Growth Properties and gave the stock a “buy” rating in a research report on Friday, March 8th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.70.
Shares of NYSE:MGP traded up $0.55 during midday trading on Monday, hitting $33.04. The company had a trading volume of 1,915,077 shares, compared to its average volume of 839,675. MGM Growth Properties has a 12 month low of $25.50 and a 12 month high of $33.08. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $2.86 billion, a P/E ratio of 14.82, a P/E/G ratio of 3.86 and a beta of 0.53.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.465 per share. The ex-dividend date is Thursday, March 28th. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.45. This represents a $1.86 annualized dividend and a yield of 5.63%. MGM Growth Properties’s payout ratio is currently 83.41%.
Hedge funds have recently bought and sold shares of the business. Menta Capital LLC lifted its holdings in MGM Growth Properties by 260.1% during the fourth quarter. Menta Capital LLC now owns 62,905 shares of the financial services provider’s stock worth $1,661,000 after acquiring an additional 45,437 shares in the last quarter. Timbercreek Investment Management Inc. lifted its holdings in shares of MGM Growth Properties by 233.7% in the first quarter. Timbercreek Investment Management Inc. now owns 494,034 shares of the financial services provider’s stock valued at $15,933,000 after purchasing an additional 345,988 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of MGM Growth Properties by 5.7% in the fourth quarter. Raymond James & Associates now owns 28,429 shares of the financial services provider’s stock valued at $751,000 after purchasing an additional 1,533 shares in the last quarter. Verition Fund Management LLC bought a new stake in shares of MGM Growth Properties in the third quarter valued at about $213,000. Finally, Man Group plc bought a new stake in shares of MGM Growth Properties in the third quarter valued at about $324,000. Hedge funds and other institutional investors own 80.90% of the company’s stock.
About MGM Growth Properties
MGM Growth Properties LLC (NYSE:MGP) is one of the leading publicly traded real estate investment trusts engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts, whose diverse amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings.
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