Studio City Ih (NYSE:MSC) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Studio City Ih (NYSE:MSC) issued its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.21, Zacks reports. Studio City Ih had a negative net margin of 7.79% and a negative return on equity of 9.26%. The company had revenue of $163.30 million during the quarter, compared to analyst estimates of $170.68 million.

Studio City Ih Trading Down 8.8%

Shares of MSC stock traded down $0.09 on Friday, reaching $0.97. The company had a trading volume of 121,337 shares, compared to its average volume of 80,798. The stock has a market cap of $203.77 million, a PE ratio of -3.87 and a beta of 0.15. The company has a 50-day moving average of $1.11 and a 200-day moving average of $2.11. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 3.70. Studio City Ih has a 12 month low of $0.75 and a 12 month high of $4.19.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Studio City Ih in a research report on Friday, September 25th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

Insider Transactions at Studio City Ih

In related news, Director Lawrence Yau Lung Ho acquired 1,043,600 shares of the business’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were acquired at an average cost of $0.20 per share, with a total value of $208,720.00. Following the transaction, the director owned 463,391,904 shares of the company’s stock, valued at $92,678,380.80. The trade was a 0.23% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 54.90% of the company’s stock.

Studio City Ih Company Profile

Studio City International Holdings Limited develops and operates Studio City, an integrated resort located in Cotai, Macau. The property combines casino gaming with hospitality, entertainment, dining, retail and leisure attractions, serving visitors to Macau’s tourism and gaming market.

Studio City’s offerings include hotel accommodations, gaming facilities, restaurants, shops, event and entertainment venues, and family-oriented attractions. The resort was developed in phases, with the initial property opening in 2015 and additional hotel, entertainment, retail and leisure facilities added through its subsequent expansion.

Studio City International Holdings is majority-owned by Melco Resorts & Entertainment Limited and focuses primarily on the operation and continued development of its Macau integrated resort.