Meritage Hospitality Group (OTCMKTS:MHGU) Stock Price Down 3.9% – Here’s Why

Meritage Hospitality Group Inc. (OTCMKTS:MHGU) shares dropped 3.9% during mid-day trading on Monday . The company traded as low as $2.0670 and last traded at $2.0670. Approximately 187,665 shares traded hands during mid-day trading, an increase of 986% from the average daily volume of 17,284 shares. The stock had previously closed at $2.15.

Meritage Hospitality Group Price Performance

The firm has a market cap of $14.03 million, a P/E ratio of -1.27 and a beta of 0.01. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.21 and a quick ratio of 0.17. The stock’s 50-day simple moving average is $4.66 and its two-hundred day simple moving average is $9.28.

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

About Meritage Hospitality Group

Meritage Hospitality Group (OTCMKTS: MHGU) is a diversified hospitality company that invests in, develops and manages limited- and select-service hotels across the United States. The company’s core activities include identifying and acquiring strategic hotel assets, securing franchise affiliations with prominent lodging brands and overseeing day-to-day property operations through its in-house management platform. Meritage’s vertically integrated model seeks to capture value at each stage of the hotel lifecycle, from site selection and development to ongoing asset management and performance optimization.

Meritage partners with leading national and global hotel franchisors, typically operating under brands within the Marriott, Choice and IHG portfolios.