Meritage Hospitality Group (OTCMKTS:MHGU) Trading Down 7.6% – Here’s What Happened

Shares of Meritage Hospitality Group Inc. (OTCMKTS:MHGU) dropped 7.6% during mid-day trading on Monday . The company traded as low as $3.76 and last traded at $3.8425. Approximately 10,650 shares were traded during trading, an increase of 307% from the average daily volume of 2,614 shares. The stock had previously closed at $4.1575.

Meritage Hospitality Group Trading Down 7.6%

The company has a current ratio of 0.21, a quick ratio of 0.17 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $25.67 million, a P/E ratio of -2.33 and a beta of 0.01. The business’s fifty day simple moving average is $7.04 and its two-hundred day simple moving average is $10.48.

Meritage Hospitality Group (OTCMKTS:MHGU) last released its earnings results on Monday, November 17th. The company reported ($1.48) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($1.94). Meritage Hospitality Group had a negative net margin of 1.28% and a negative return on equity of 6.70%. The company had revenue of $154.60 million during the quarter, compared to the consensus estimate of $173.10 million. As a group, analysts forecast that Meritage Hospitality Group Inc. will post 0.97 earnings per share for the current year.

Meritage Hospitality Group Company Profile

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.