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

Key Points

• Studio City reported a quarterly loss of $0.07 per share, beating analyst estimates of a $0.28 loss by $0.21.
• Revenue was $163.3 million, below the $170.7 million consensus estimate; the company also posted a 7.79% negative net margin.
• Shares fell to $0.88 in Wednesday’s mid-day trading, and MarketBeat reported an average analyst rating of “Sell.”

Studio City Ih (NYSE:MSC - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $163.30 million during the quarter, compared to analysts' expectations of $170.68 million.

Studio City Ih Price Performance

Shares of MSC traded down $0.19 during mid-day trading on Wednesday, reaching $0.88. The company had a trading volume of 23,979 shares, compared to its average volume of 38,438. The company has a debt-to-equity ratio of 3.70, a current ratio of 0.76 and a quick ratio of 0.72. The company has a market capitalization of $185.01 million, a P/E ratio of -3.17 and a beta of 0.15. Studio City Ih has a twelve month low of $0.75 and a twelve month high of $4.19. The company's 50-day moving average is $1.16 and its 200-day moving average is $2.14.

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 analyst has rated the stock with a Sell rating. According to MarketBeat, Studio City Ih currently has an average rating of "Sell".

Insider Buying and Selling

In related news, Director Lawrence Yau Lung Ho purchased 1,043,600 shares of the firm's stock in a transaction that occurred on Wednesday, September 23rd. The shares were acquired at an average price of $0.20 per share, with a total value of $208,720.00. Following the purchase, the director directly owned 463,391,904 shares in the company, valued at $92,678,380.80. This represents a 0.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 54.90% of the stock is currently 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.

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