Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Expected to Announce Earnings of $0.27 Per Share

Equities research analysts predict that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will report earnings of $0.27 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.27. Melco Resorts & Entertainment posted earnings per share of $0.04 during the same quarter last year, which suggests a positive year-over-year growth rate of 575%. The company is scheduled to announce its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Melco Resorts & Entertainment will report full year earnings of $1.06 per share for the current year, with EPS estimates ranging from $1.04 to $1.09. For the next financial year, analysts anticipate that the business will post earnings of $1.21 per share, with EPS estimates ranging from $1.02 to $1.37. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.32 billion. Melco Resorts & Entertainment had a net margin of 6.55% and a return on equity of 14.53%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 EPS.

A number of brokerages recently weighed in on MLCO. BidaskClub raised shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a report on Saturday, October 12th. CLSA set a $26.00 price target on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a report on Friday, September 6th. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Nomura reissued a “buy” rating and issued a $15.00 price target on shares of Melco Resorts & Entertainment in a report on Tuesday, August 13th. Finally, ValuEngine downgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the stock. Melco Resorts & Entertainment has a consensus rating of “Buy” and a consensus target price of $24.43.

Shares of NASDAQ:MLCO traded down $0.33 during midday trading on Thursday, reaching $20.29. The company had a trading volume of 918,189 shares, compared to its average volume of 1,439,572. The company’s 50 day moving average price is $20.46 and its 200 day moving average price is $21.96. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 1.47. The stock has a market cap of $10.19 billion, a P/E ratio of 22.80, a P/E/G ratio of 0.94 and a beta of 1.84. Melco Resorts & Entertainment has a 52-week low of $15.33 and a 52-week high of $26.97.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLCO. Nuveen Asset Management LLC bought a new stake in shares of Melco Resorts & Entertainment during the second quarter valued at about $219,643,000. Matthews International Capital Management LLC boosted its stake in shares of Melco Resorts & Entertainment by 2,521.3% during the second quarter. Matthews International Capital Management LLC now owns 3,520,700 shares of the company’s stock valued at $76,470,000 after purchasing an additional 3,386,387 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Melco Resorts & Entertainment during the second quarter valued at approximately $44,932,000. Mackenzie Financial Corp purchased a new stake in shares of Melco Resorts & Entertainment during the second quarter valued at approximately $28,726,000. Finally, Broad Peak Investment Management LTD. boosted its stake in shares of Melco Resorts & Entertainment by 48.1% during the second quarter. Broad Peak Investment Management LTD. now owns 3,978,814 shares of the company’s stock valued at $86,420,000 after purchasing an additional 1,292,958 shares during the period. 35.80% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.

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