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

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

Studio City Ih Stock Up 12.7%

Shares of MSC traded up $0.11 during midday trading on Thursday, hitting $1.00. The stock had a trading volume of 31,928 shares, compared to its average volume of 38,455. The company has a 50 day simple moving average of $1.14 and a two-hundred day simple moving average of $2.13. Studio City Ih has a twelve month low of $0.75 and a twelve month high of $4.19. The firm has a market cap of $211.35 million, a price-to-earnings ratio of -3.58 and a beta of 0.15. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.76 and a quick ratio of 0.72.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Studio City Ih

In other news, Director Lawrence Yau Lung Ho acquired 1,043,600 shares of Studio City Ih stock in a transaction dated Wednesday, September 23rd. The stock was bought at an average cost of $0.20 per share, with a total value of $208,720.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 54.90% of the stock is owned by corporate insiders.

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.