Brokerages expect Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to announce $0.27 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Melco Resorts & Entertainment’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.28. Melco Resorts & Entertainment reported earnings per share of $0.04 in the same quarter last year, which would suggest a positive year-over-year growth rate of 575%. The company is expected to issue its next earnings report on Thursday, November 14th.
On average, 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 fiscal year, analysts anticipate that the business will report earnings of $1.21 per share, with EPS estimates ranging from $1.02 to $1.37. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Melco Resorts & Entertainment.
Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Melco Resorts & Entertainment had a return on equity of 14.53% and a net margin of 6.55%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share.
Several research analysts have issued reports on MLCO shares. Zacks Investment Research cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. UBS Group upped their price target on Melco Resorts & Entertainment from $25.60 to $26.80 and gave the company a “buy” rating in a report on Friday, September 13th. Nomura reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Melco Resorts & Entertainment in a research note on Tuesday, August 13th. JPMorgan Chase & Co. decreased their price objective on shares of Melco Resorts & Entertainment from $29.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, September 6th. Finally, ValuEngine lowered shares of Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $24.43.
Shares of NASDAQ MLCO traded down $0.33 during trading on Thursday, hitting $20.29. The company had a trading volume of 918,189 shares, compared to its average volume of 1,439,572. The company has a market cap of $10.19 billion, a P/E ratio of 22.80, a PEG 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. The business’s 50-day moving average is $20.46 and its 200 day moving average is $21.96. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.80 and a current ratio of 0.82.
Several large investors have recently modified their holdings of the business. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Melco Resorts & Entertainment in the second quarter valued at approximately $48,000. Tower Research Capital LLC TRC boosted its holdings in Melco Resorts & Entertainment by 2,725.5% during the second quarter. Tower Research Capital LLC TRC now owns 2,882 shares of the company’s stock worth $62,000 after purchasing an additional 2,780 shares during the last quarter. Asahi Life Asset Management CO. LTD. acquired a new position in Melco Resorts & Entertainment during the second quarter worth $98,000. Atlas Capital Advisors LLC acquired a new position in Melco Resorts & Entertainment during the second quarter worth $139,000. Finally, Almanack Investment Partners LLC. acquired a new position in Melco Resorts & Entertainment during the second quarter worth $163,000. 35.80% of the stock is owned by institutional investors.
About Melco Resorts & Entertainment
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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