Morgans Hotel Group (MHGC) Posts Quarterly Results
Morgans Hotel Group (NASDAQ:MHGC) released its earnings data on Friday. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by $0.14, American Banking & Market News reports. The company had revenue of $61.45 million for the quarter, compared to the consensus estimate of $62.60 million.
Shares of Morgans Hotel Group (NASDAQ:MHGC) opened at 7.35 on Friday. Morgans Hotel Group has a one year low of $6.25 and a one year high of $8.49. The stock has a 50-day moving average of $7.64 and a 200-day moving average of $7.76. The company’s market cap is $250.9 million.
Morgans Hotel Group Co is a fully integrated lifestyle hospitality company that 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, and nightclubs, restaurants, bars and other food and beverage venues in many of the hotels it operate, as well as in hotels and casinos operated by MGM Resorts International (NASDAQ:MHGC) in Las Vegas.
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