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

Studio City Ih (NYSE:MSC) announced its quarterly earnings results on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.21, FiscalAI reports. Studio City Ih had a negative net margin of 7.79% and a negative return on equity of 9.26%. The firm had revenue of $163.30 million during the quarter, compared to the consensus estimate of $170.68 million.

Studio City Ih Price Performance

MSC traded down $0.19 during trading on Wednesday, hitting $0.88. The company’s stock had a trading volume of 23,979 shares, compared to its average volume of 38,438. The company has a quick ratio of 0.72, a current ratio of 0.76 and a debt-to-equity ratio of 3.70. The stock has a market capitalization of $185.01 million, a price-to-earnings ratio of -3.17 and a beta of 0.15. The firm’s 50 day moving average price is $1.16 and its two-hundred day moving average price is $2.14. Studio City Ih has a 12 month low of $0.75 and a 12 month high of $4.19.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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 MarketBeat.com, the stock presently has an average rating of “Sell”.

Insider Buying and Selling at Studio City Ih

In other Studio City Ih news, Director Lawrence Yau Lung Ho bought 1,043,600 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was bought at an average cost of $0.20 per share, for a total transaction of $208,720.00. Following the completion of the purchase, the director owned 463,391,904 shares in the company, valued at $92,678,380.80. This represents a 0.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 54.90% of the company’s stock.

About Studio City Ih

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.