MGM Growth Properties LLC (NYSE:MGP) price on Friday, August 27, rose 2.25% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $40.88.
A look at the stock’s price movement, the level at last check in today’s session was $39.98, moving within a range at $39.505 and $40.03. The beta value (5-Year monthly) was 0.81 while the PE ratio in trailing twelve months stood at 29.06. Turning to its 52-week performance, $41.30 and $25.83 were the 52-week high and 52-week low respectively. Overall, MGP moved 5.21% over the past month.
MGM Growth Properties LLC’s market cap currently stands at around $19.63 billion, with investors looking forward to this quarter’s earnings report slated for Nov 01, 2021 – Nov 05, 2021. The company has a Forward Dividend ratio of 2.06, with its dividend yield at 5.15%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $0.32, which has seen fiscal year 2021 EPS growth forecast to increase to $1.43 and about $1.38 for fiscal year 2022. Per the data, EPS growth is expected to be 142.40% for 2021 and -3.50% for the next financial year.
Analysts have a consensus estimate of $196.7 million for the company’s revenue for the quarter, with a low and high estimate of $188.31 million and $203.13 million respectively. The average forecast suggests up to a 1.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2021 to grow to $786.86 million, representing a -0.70% decline on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that MGP is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 4 recommend MGP as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 0.68, with MGP’s current price about 3.32% and 7.75% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 66.21, while 7-day volatility ratio is 1.50% and 2.15% in the 30-day chart. Further, MGM Growth Properties LLC (MGP) has a beta value of 0.82, and an average true range (ATR) of 0.77. Analysts have given the company’s stock an average 52-week price target of $41.25, forecast between a low of $36.00 and high of $43.00. Looking at the price targets, the low is 11.94% off recent price level in today’s trading while to achieve the yearly target high, it has to move -5.19%. Nonetheless, investors will most likely welcome a -3.96% jump to $42.50 which is the analysts’ median price.
In the market, a comparison of MGM Growth Properties LLC (MGP) and its peers suggest the former has performed considerably stronger. Data shows MGP’s intraday price has changed 2.25% today and 38.05% over the past year. Comparatively, Realty Income Corporation (O) has moved 1.01% so far today and only 15.08% in the past 12 months. Looking at another peer, we see that Nam Tai Property Inc. (NTP) price has gained 3.09% on the day. However, the stock is 193.98% off its price today a year ago. Moreover, New York Mortgage Trust Inc. (NYMT) is also up 2.31% in today’s trading while keeping a an uptrend of 61.57% over the past year. If we look at the PE ratio, we find that MGM Growth Properties LLC’s ratio stands at 29.06 compared to Realty Income Corporation’s 71.91 and Nam Tai Property Inc.’s 21.19. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.81% and 0.63% respectively on the day as seen in early trades.
If we refocus on MGM Growth Properties LLC (NYSE:MGP), historical trading data shows that trading volumes averaged 0.94 million over the past 10 days and 1.39 million over the past 3 months. The company’s latest data on shares outstanding shows there are 154.37 million shares.
The 0.20% of MGM Growth Properties LLC’s shares are in the hands of company insiders while institutional holders own 96.80% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 2.86 million on May 27, 2021, giving us a short ratio of 3.67. The data shows that as of May 27, 2021 short interest in MGM Growth Properties LLC (MGP) stood at 1.08% of shares outstanding, with shares short rising to 2.73 million registered in Apr 29, 2021. Current price change has pushed the stock 27.73% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MGP stock continues to rise going into the next quarter.