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

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

Studio City Ih Trading Up 19.1%

Shares of NYSE:MSC traded up $0.17 during trading on Thursday, reaching $1.06. The stock had a trading volume of 56,673 shares, compared to its average volume of 38,612. The firm’s fifty day moving average is $1.14 and its 200 day moving average is $2.13. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.72 and a current ratio of 0.76. Studio City Ih has a 52 week low of $0.75 and a 52 week high of $4.19. The stock has a market cap of $223.36 million, a price-to-earnings ratio of -3.79 and a beta of 0.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Studio City Ih in a research note on Friday, September 25th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Insiders Place Their Bets

In other news, Director Lawrence Yau Lung Ho bought 1,043,600 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was acquired at an average price of $0.20 per share, with a total value of $208,720.00. Following the completion of the purchase, the director directly owned 463,391,904 shares of the company’s stock, valued at approximately $92,678,380.80. This represents a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 54.90% of the stock is owned by corporate insiders.

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.