News headlines about MGP Ingredients (NASDAQ:MGPI) have trended somewhat positive on Tuesday, Accern reports. The research group identifies positive and negative press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. MGP Ingredients earned a news impact score of 0.14 on Accern’s scale. Accern also gave headlines about the company an impact score of 45.6184056469507 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
These are some of the headlines that may have effected Accern’s scoring:
- MGP Expands Non-GMO Project Verified Ingredient Offerings (pressreleasepoint.com)
- MGP Ingredients, Inc. (MGPI) Expected to Post Earnings of $0.35 Per Share (americanbankingnews.com)
- Global Organic Soy Protein Market Professional Survey Report by 2024 (sbwire.com)
- Brokerages Set $69.00 Target Price for MGP Ingredients, Inc. (MGPI) (americanbankingnews.com)
- $83.58 Million in Sales Expected for MGP Ingredients, Inc. (MGPI) This Quarter (americanbankingnews.com)
A number of brokerages have recently weighed in on MGPI. BidaskClub upgraded MGP Ingredients from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Sidoti lowered MGP Ingredients from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. Finally, Zacks Investment Research lowered MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Friday, June 30th.
MGP Ingredients (NASDAQ:MGPI) opened at 58.95 on Tuesday. The stock’s 50 day moving average price is $58.20 and its 200-day moving average price is $53.49. The company has a market cap of $985.35 million, a price-to-earnings ratio of 30.78 and a beta of 1.04. MGP Ingredients has a 52 week low of $31.93 and a 52 week high of $62.00.
MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by $0.03. MGP Ingredients had a net margin of 9.33% and a return on equity of 21.30%. The firm had revenue of $85.80 million during the quarter, compared to analysts’ expectations of $84.39 million. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities research analysts forecast that MGP Ingredients will post $1.69 earnings per share for the current fiscal year.
The company also recently disclosed a special dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were paid a $0.85 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a yield of 0.27%. MGP Ingredients’s payout ratio is 8.42%.
In related news, Director Karen Seaberg sold 6,598 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.06, for a total value of $396,275.88. Following the transaction, the director now owns 10,591 shares in the company, valued at $636,095.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 13,820 shares of company stock worth $773,123. 23.50% of the stock is owned by company insiders.
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About MGP Ingredients
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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