Studio City Ih (NYSE:MSC) Stock Price Down 6.2% – Here’s Why

Studio City Ih (NYSE:MSC) shares dropped 6.2% during mid-day trading on Tuesday . The company traded as low as $2.60 and last traded at $2.44. Approximately 3,843 shares changed hands during trading, a decline of 37% from the average daily volume of 6,102 shares. The stock had previously closed at $2.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Studio City Ih in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Studio City Ih has a consensus rating of “Sell”.

Studio City Ih Stock Performance

The company has a market cap of $568.94 million, a PE ratio of -12.27 and a beta of 0.09. The company has a quick ratio of 0.68, a current ratio of 0.23 and a debt-to-equity ratio of 3.03. The company has a 50-day moving average of $2.75 and a 200-day moving average of $3.23.

Studio City Ih (NYSE:MSC) last announced its earnings results on Tuesday, March 31st. The company reported $0.00 earnings per share (EPS) for the quarter. The company had revenue of $176.72 million for the quarter. Studio City Ih had a negative return on equity of 6.90% and a negative net margin of 5.68%.

About Studio City Ih

Studio City International Holdings Limited (NYSE: MSC) is a Cayman Islands–incorporated company that develops, owns and operates the Studio City integrated resort on the Cotai Strip in Macau. The business is principally engaged in gaming and non-gaming operations, including hotel accommodations, retail concessions, food and beverage outlets, live entertainment and themed attractions. Studio City is designed to cater to both mass-market and premium gaming customers while also appealing to family and leisure travelers through its entertainment and retail offerings.

The centerpiece of the company’s portfolio is the Studio City resort, which opened in October 2015 and features two landmark hotel towers, more than 1,600 guest rooms and suites, over 160,000 square feet of retail space, a range of dining concepts and convention facilities.