$0.50 EPS Expected for MGM Growth Properties LLC (MGP) This Quarter

Equities research analysts predict that MGM Growth Properties LLC (NYSE:MGP) will post earnings of $0.50 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for MGM Growth Properties’ earnings. The highest EPS estimate is $0.53 and the lowest is $0.49. MGM Growth Properties reported earnings per share of $0.32 in the same quarter last year, which would suggest a positive year-over-year growth rate of 56.3%. The business is expected to announce its next earnings results on Thursday, August 3rd.

On average, analysts expect that MGM Growth Properties will report full year earnings of $2.01 per share for the current financial year, with EPS estimates ranging from $1.97 to $2.08. For the next financial year, analysts anticipate that the company will report earnings of $2.07 per share, with EPS estimates ranging from $2.02 to $2.16. Zacks’ EPS calculations are an average based on a survey of analysts that follow MGM Growth Properties.

MGM Growth Properties (NYSE:MGP) last posted its quarterly earnings results on Thursday, April 27th. The financial services provider reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.28. The firm had revenue of $183.90 million during the quarter, compared to analyst estimates of $180.80 million. MGM Growth Properties had a return on equity of 2.67% and a net margin of 22.29%.

Several equities research analysts recently commented on the company. Zacks Investment Research cut MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Thursday. Ladenburg Thalmann Financial Services assumed coverage on MGM Growth Properties in a report on Friday, June 2nd. They set a “buy” rating and a $32.00 target price on the stock. Finally, Deutsche Bank AG reissued a “hold” rating on shares of MGM Growth Properties in a report on Monday, March 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $28.50.

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MGM Growth Properties (NYSE MGP) traded down 0.07% during trading on Friday, reaching $28.61. The company had a trading volume of 418,725 shares. MGM Growth Properties has a 12-month low of $23.63 and a 12-month high of $28.97. The stock has a market cap of $1.65 billion, a P/E ratio of 39.68 and a beta of -1.35. The firm has a 50-day moving average price of $28.15 and a 200 day moving average price of $26.30.

In related news, Director Robert W. Smith purchased 2,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were bought at an average price of $27.87 per share, with a total value of $55,740.00. Following the completion of the acquisition, the director now owns 2,000 shares of the company’s stock, valued at $55,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Several hedge funds and other institutional investors have recently bought and sold shares of MGP. Vanguard Group Inc. boosted its position in MGM Growth Properties by 2.0% in the first quarter. Vanguard Group Inc. now owns 4,548,696 shares of the financial services provider’s stock valued at $123,042,000 after buying an additional 88,687 shares in the last quarter. American Century Companies Inc. boosted its position in MGM Growth Properties by 18.6% in the first quarter. American Century Companies Inc. now owns 3,319,942 shares of the financial services provider’s stock valued at $89,804,000 after buying an additional 519,494 shares in the last quarter. Brookfield Asset Management Inc. boosted its position in MGM Growth Properties by 20.7% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,235,681 shares of the financial services provider’s stock valued at $81,895,000 after buying an additional 555,890 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in MGM Growth Properties by 8.9% in the fourth quarter. Alyeska Investment Group L.P. now owns 2,878,929 shares of the financial services provider’s stock valued at $72,866,000 after buying an additional 234,302 shares in the last quarter. Finally, Gates Capital Management Inc. bought a new position in MGM Growth Properties during the fourth quarter valued at about $66,702,000. 95.45% of the stock is currently owned by institutional investors.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MGP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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