Melco Resorts & Entertainment (NASDAQ:MLCO) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Melco Resorts & Entertainment (NASDAQ:MLCO) released its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02, Briefing.com reports. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative return on equity of 8.00% and a negative net margin of 4.34%. The business’s revenue was up 55.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.14) earnings per share.

Melco Resorts & Entertainment Price Performance

Shares of MLCO opened at $6.59 on Thursday. Melco Resorts & Entertainment has a 1-year low of $6.10 and a 1-year high of $13.91. The firm has a 50 day simple moving average of $7.18 and a 200-day simple moving average of $7.82.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MLCO shares. StockNews.com raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Susquehanna dropped their target price on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a report on Monday. Finally, Citigroup upped their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $13.82.

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.