Wall Street brokerages expect MGM Growth Properties LLC (NYSE:MGP) to announce earnings of $0.57 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for MGM Growth Properties’ earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.59. MGM Growth Properties reported earnings per share of $0.52 during the same quarter last year, which indicates a positive year over year growth rate of 9.6%. The company is expected to announce its next earnings results on Tuesday, February 19th.
According to Zacks, analysts expect that MGM Growth Properties will report full year earnings of $2.15 per share for the current fiscal year, with EPS estimates ranging from $2.01 to $2.24. For the next year, analysts anticipate that the business will report earnings of $2.26 per share, with EPS estimates ranging from $2.15 to $2.36. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover MGM Growth Properties.
MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings results on Thursday, November 1st. The financial services provider reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.31). The company had revenue of $282.22 million for the quarter, compared to the consensus estimate of $273.53 million. MGM Growth Properties had a net margin of 6.13% and a return on equity of 0.95%. The company’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of MGM Growth Properties from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 25th. Barclays lifted their price target on shares of MGM Growth Properties from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, July 12th. Bank of America lifted their price target on shares of MGM Growth Properties from $30.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, July 17th. SunTrust Banks reaffirmed a “hold” rating on shares of MGM Growth Properties in a report on Tuesday, October 2nd. Finally, Morgan Stanley lifted their price target on shares of MGM Growth Properties from $29.00 to $32.00 and gave the company a “hold” rating in a report on Tuesday, July 24th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $32.50.
Shares of MGM Growth Properties stock traded up $0.03 during midday trading on Monday, hitting $27.99. 408,882 shares of the company traded hands, compared to its average volume of 670,736. The firm has a market capitalization of $1.98 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.29 and a beta of -0.01. The company has a current ratio of 8.43, a quick ratio of 8.43 and a debt-to-equity ratio of 0.66. MGM Growth Properties has a 12 month low of $25.31 and a 12 month high of $31.61.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.438 per share. The ex-dividend date was Thursday, September 27th. This is an increase from MGM Growth Properties’s previous quarterly dividend of $0.43. This represents a $1.75 annualized dividend and a yield of 6.26%. MGM Growth Properties’s dividend payout ratio (DPR) is currently 87.06%.
Large investors have recently bought and sold shares of the stock. Synovus Financial Corp boosted its position in MGM Growth Properties by 857.9% during the 3rd quarter. Synovus Financial Corp now owns 3,391 shares of the financial services provider’s stock worth $100,000 after buying an additional 3,037 shares during the period. SG Americas Securities LLC acquired a new stake in MGM Growth Properties during the 2nd quarter worth approximately $153,000. Paloma Partners Management Co acquired a new stake in MGM Growth Properties during the 2nd quarter worth approximately $204,000. Xact Kapitalforvaltning AB boosted its position in MGM Growth Properties by 29.6% during the 1st quarter. Xact Kapitalforvaltning AB now owns 9,195 shares of the financial services provider’s stock worth $244,000 after buying an additional 2,100 shares during the period. Finally, Jane Street Group LLC acquired a new stake in MGM Growth Properties during the 1st quarter worth approximately $251,000.
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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