Wall Street brokerages expect MGM Growth Properties LLC (NYSE:MGP) to report $286.22 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for MGM Growth Properties’ earnings, with the lowest sales estimate coming in at $281.64 million and the highest estimate coming in at $290.80 million. MGM Growth Properties posted sales of $182.80 million during the same quarter last year, which suggests a positive year over year growth rate of 56.6%. The business is expected to report its next quarterly earnings report on Wednesday, November 14th.
On average, analysts expect that MGM Growth Properties will report full-year sales of $986.72 million for the current year, with estimates ranging from $965.40 million to $998.57 million. For the next fiscal year, analysts expect that the firm will report sales of $1.12 billion per share, with estimates ranging from $1.02 billion to $1.18 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover MGM Growth Properties.
MGM Growth Properties (NYSE:MGP) last released its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.33). MGM Growth Properties had a return on equity of 0.81% and a net margin of 5.85%. The company had revenue of $220.40 million for the quarter, compared to analyst estimates of $218.17 million. During the same period in the previous year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year.
A number of equities analysts have recently issued reports on MGP shares. Bank of America raised their target price on shares of MGM Growth Properties from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Barclays raised their target price on shares of MGM Growth Properties from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley raised their target price on shares of MGM Growth Properties from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Tuesday, July 24th. Finally, Citigroup upgraded shares of MGM Growth Properties from a “neutral” rating to a “buy” rating in a research report on Wednesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. MGM Growth Properties has an average rating of “Buy” and an average target price of $32.22.
Several institutional investors and hedge funds have recently made changes to their positions in MGP. KBC Group NV grew its position in MGM Growth Properties by 17.8% in the 1st quarter. KBC Group NV now owns 12,520 shares of the financial services provider’s stock valued at $332,000 after buying an additional 1,896 shares during the last quarter. Citadel Advisors LLC grew its position in MGM Growth Properties by 536.2% in the 1st quarter. Citadel Advisors LLC now owns 406,686 shares of the financial services provider’s stock valued at $10,794,000 after buying an additional 342,759 shares during the last quarter. Nuveen Asset Management LLC grew its position in MGM Growth Properties by 8.5% in the 1st quarter. Nuveen Asset Management LLC now owns 2,589,564 shares of the financial services provider’s stock valued at $68,727,000 after buying an additional 203,719 shares during the last quarter. FDx Advisors Inc. lifted its holdings in MGM Growth Properties by 39.0% in the first quarter. FDx Advisors Inc. now owns 16,791 shares of the financial services provider’s stock valued at $446,000 after acquiring an additional 4,711 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in MGM Growth Properties by 191.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 102,144 shares of the financial services provider’s stock valued at $2,978,000 after acquiring an additional 67,057 shares during the period. Institutional investors and hedge funds own 94.03% of the company’s stock.
MGP stock traded down $0.29 during midday trading on Tuesday, reaching $29.34. 405,213 shares of the company were exchanged, compared to its average volume of 571,047. The company has a current ratio of 8.43, a quick ratio of 8.04 and a debt-to-equity ratio of 0.66. The stock has a market cap of $2.10 billion, a P/E ratio of 14.60, a PEG ratio of 1.43 and a beta of -0.46. MGM Growth Properties has a 1-year low of $25.31 and a 1-year high of $31.83.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, June 28th. This is a positive change from MGM Growth Properties’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.86%. MGM Growth Properties’s dividend payout ratio (DPR) is 85.57%.
MGM Growth Properties Company Profile
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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