Morgans Hotel Group Co. (MHGC) Stock Price Down 5.5%
Morgans Hotel Group Co. (NASDAQ:MHGC)’s share price fell 5.5% on Monday . The stock traded as low as $2.37 and last traded at $2.40, with a volume of 147,841 shares trading hands. The stock had previously closed at $2.54.
Separately, MKM Partners raised Morgans Hotel Group from a “sell” rating to a “neutral” rating and set a $2.25 price objective for the company in a research note on Tuesday, May 10th.
The firm has a market capitalization of $83.10 million and a P/E ratio of 9.41. The stock’s 50 day moving average is $2.28 and its 200-day moving average is $1.80.
Morgans Hotel Group (NASDAQ:MHGC) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.30). The business earned $52.86 million during the quarter, compared to the consensus estimate of $56.21 million. On average, equities research analysts expect that Morgans Hotel Group Co. will post ($1.36) EPS for the current fiscal year.
Morgans Hotel Group Co is a lifestyle hospitality company. The Company operates, owns, acquires, develops and redevelops boutique hotels, primarily in gateway cities and select resort markets in the United States, Europe and other international locations. The Company’s portfolio includes three owned hotels, consisting of Hudson in New York, Delano South Beach in Miami Beach and Clift in San Francisco, comprising approximately 1,450 rooms, and the food and beverage operations located at these hotels (collectively, the Company’s Owned Hotels); Company’s owned food and beverage operations; Company’s two joint venture hotels, and Company’s licensed hotel.
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