Meritage Hospitality Group (OTCMKTS:MHGU) Trading Down 3.5% - Here's What Happened

Key Points

• Shares of Meritage Hospitality Group (OTCMKTS:MHGU) fell by 3.5%, trading between $9.35 and $10.37 amid a significant increase in trading volume.
• The company's recent quarterly earnings report showed a loss of ($0.04) earnings per share, missing analyst expectations by ($0.58) and revealing revenue below forecasts.
• Meritage operates a portfolio of quick-service and casual dining restaurants, including Wendy's and Taco John’s, across several states in the U.S.

Shares of Meritage Hospitality Group Inc. (OTCMKTS:MHGU - Get Free Report) were down 3.5% during mid-day trading on Monday . The stock traded as low as $9.35 and last traded at $10.37. Approximately 2,500 shares traded hands during trading, an increase of 442% from the average daily volume of 461 shares. The stock had previously closed at $10.75.

Meritage Hospitality Group Price Performance

The company has a current ratio of 0.26, a quick ratio of 0.22 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $69.27 million, a PE ratio of -20.33 and a beta of -0.06. The business has a fifty day moving average price of $11.71 and a 200-day moving average price of $12.67.

Meritage Hospitality Group (OTCMKTS:MHGU - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.58). The firm had revenue of $163.50 million for the quarter, compared to analysts' expectations of $181.00 million. Meritage Hospitality Group had a negative net margin of 0.10% and a negative return on equity of 0.54%. Research analysts expect that Meritage Hospitality Group Inc. will post 0.97 EPS for the current fiscal year.

About Meritage Hospitality Group

Meritage Hospitality Group Inc operates quick-service and casual dining restaurants. The company operates restaurants under the Wendy's, Morning Belle, and Stan's Tacos, as well as Taco John's brand names in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee, Texas, and Virginia.

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