71.8 F
New York
Monday, September 28, 2020

MGM Growth Properties LLC (NYSE:MGP) Finding Strong Support

Must read

The Unprecedented Rise of China SXT Pharmaceuticals Inc. (NASDAQ:SXTC)

China SXT Pharmaceuticals Inc. (SXTC) shares are trading at lower $0.25. To add more color to this target, the company’s high over the last...

Kilroy Realty Corporation (NYSE:KRC) on the Path to Profitability

Kilroy Realty Corporation (KRC) shares are trading at higher $52.17 and the avg recommendation for the stock is Moderate Buy, while the current analyst...

Viking Therapeutics Inc. (NASDAQ:VKTX) is Gaining Momentum on Earnings Catalyst

Viking Therapeutics Inc. (VKTX) shares are trading at lower $6.03 and the avg recommendation for the stock is Strong Buy. To add more color...

Renewed Optimism is Surrounding CarParts.com Inc. (NASDAQ:PRTS)

CarParts.com Inc. (PRTS) shares are trading at lower $11.17 and the avg recommendation for the stock is Moderate Buy, while the current analyst price...

The MGM Growth Properties LLC (MGP) shares are trading at higher $26.21 and the avg recommendation for the stock is Strong Buy. while the current analyst price target stands at $31.70.

To add more color to this target, the company’s high over the last year is $34.37 and the low is $11.43. Over the last 52 weeks, MGP is down -23.74% while the S&P 500 is down -0.63%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, MGP reported a profit of $-58.96 million. MGM Growth Properties LLC also saw revenues decrease to $209.57 million. In addition, MGP has free cash flow of $233.99 million as of 03-2020. The company’s EBITDA came in at $10.23 million which compares well with its peers.

MGP booked profit margins of 2.30%, its Return on Equity (ROE) is 0.90%, and its Return on Assets is 0.20%. All told, it is clear that, MGP needs to be on your watchlist.

Find out when MGP reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. MGP has a short ratio of 2.73 and outstanding shares of 131.42M.

Company Outlook

MGP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.12 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.33. Investors should also keep an eye on sector updates as MGP has historically followed its peers on positive news.

All told, MGM Growth Properties LLC MGP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, MGP represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

MGM Growth Properties LLC MGP is now commanding a market cap of 12.57B and a float of 130.93M. MGP is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of MGP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in MGP, either long or short, and we have not been compensated for this article.

Latest article

The Forecast Just Changed on Newpark Resources Inc. (NYSE:NR)

Newpark Resources Inc. (NR) shares are trading at higher $1.27 and the avg recommendation for the stock is Moderate Buy. To add more color...

Maxeon Solar Technologies Ltd. (NASDAQ:MAXN) on the Path to Profitability

Maxeon Solar Technologies Ltd. (MAXN) shares are trading at higher $14.38 and the avg recommendation for the stock is Hold, while the current analyst...

Is Now the Time to Invest in Alliance Data Systems Corporation (NYSE:ADS)?

Alliance Data Systems Corporation (ADS) shares are trading at lower $42.00 and the avg recommendation for the stock is Moderate Buy, while the current...

Mitsubishi UFJ Financial Group Inc. (NYSE:MUFG) Stock is Soaring, Here is Why

Mitsubishi UFJ Financial Group Inc. (MUFG) shares are trading at higher $4.19, while the current analyst price target stands at $6.12. To add more...

The Carlyle Group Inc. (NASDAQ:CG) is Holding Steady

The Carlyle Group Inc. (CG) shares are trading at higher $23.69 and the avg recommendation for the stock is Moderate Buy, while the current...