SunTrust Banks Analysts Decrease Earnings Estimates for MGM Growth Properties LLC (MGP)

MGM Growth Properties LLC (NYSE:MGP) – Stock analysts at SunTrust Banks cut their Q1 2018 earnings per share (EPS) estimates for shares of MGM Growth Properties in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst P. Scholes now forecasts that the financial services provider will earn $0.52 per share for the quarter, down from their previous forecast of $0.54. SunTrust Banks has a “Buy” rating and a $31.00 price target on the stock. SunTrust Banks also issued estimates for MGM Growth Properties’ Q2 2018 earnings at $0.54 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.54 EPS, FY2018 earnings at $2.14 EPS, Q1 2019 earnings at $0.54 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.55 EPS and FY2019 earnings at $2.19 EPS.

MGP has been the subject of a number of other reports. Zacks Investment Research upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Thursday, January 4th. ValuEngine upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Ladenburg Thalmann Financial Services set a $35.00 price target on shares of MGM Growth Properties and gave the company a “buy” rating in a research report on Wednesday, January 17th. Morgan Stanley assumed coverage on shares of MGM Growth Properties in a research report on Thursday, February 15th. They set an “equal weight” rating and a $29.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on shares of MGM Growth Properties from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $31.44.

Shares of MGM Growth Properties (NYSE:MGP) opened at $25.88 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 28.86 and a quick ratio of 28.86. The company has a market cap of $1,871.68, a PE ratio of 13.20, a P/E/G ratio of 0.73 and a beta of -1.41. MGM Growth Properties has a 12-month low of $25.15 and a 12-month high of $31.83.

MGM Growth Properties (NYSE:MGP) last announced its quarterly earnings data on Tuesday, February 20th. The financial services provider reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.01). The firm had revenue of $214.50 million during the quarter, compared to analyst estimates of $207.74 million. MGM Growth Properties had a net margin of 5.46% and a return on equity of 0.74%. MGM Growth Properties’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS.

Several hedge funds have recently bought and sold shares of MGP. Wells Fargo & Company MN lifted its position in shares of MGM Growth Properties by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 25,389 shares of the financial services provider’s stock valued at $741,000 after acquiring an additional 649 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of MGM Growth Properties by 68.9% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 20,770 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 8,470 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in shares of MGM Growth Properties during the 2nd quarter worth approximately $413,000. Dimensional Fund Advisors LP purchased a new position in shares of MGM Growth Properties during the 2nd quarter worth approximately $4,189,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of MGM Growth Properties by 87.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 151,483 shares of the financial services provider’s stock worth $4,421,000 after purchasing an additional 70,593 shares in the last quarter.

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MGM Growth Properties Company Profile

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.

Earnings History and Estimates for MGM Growth Properties (NYSE:MGP)

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