Equities research analysts predict that Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) will announce earnings per share of $0.12 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings. The highest EPS estimate is $0.20 and the lowest is $0.06. Melco Resorts & Entertainment reported earnings of $0.05 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 140%. The company is expected to report its next earnings results on Thursday, August 3rd.
On average, analysts expect that Melco Resorts & Entertainment will report full year earnings of $0.69 per share for the current financial year, with EPS estimates ranging from $0.39 to $0.87. For the next year, analysts expect that the company will report earnings of $0.83 per share, with EPS estimates ranging from $0.61 to $1.05. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Melco Resorts & Entertainment.
Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business posted $0.07 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year.
Several equities analysts have recently commented on MLCO shares. Instinet raised Melco Resorts & Entertainment from a “reduce” rating to a “neutral” rating and upped their target price for the company from $14.00 to $16.00 in a report on Wednesday, January 25th. Wells Fargo & Co reiterated a “market perform” rating on shares of Melco Resorts & Entertainment in a research report on Wednesday, January 25th. Nomura upgraded Melco Resorts & Entertainment from a “reduce” rating to a “neutral” rating in a research report on Wednesday, January 25th. Vetr downgraded Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating and set a $19.43 price objective for the company. in a research report on Wednesday, January 25th. Finally, Aegis reiterated a “buy” rating and set a $23.00 price objective on shares of Melco Resorts & Entertainment in a research report on Monday, January 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $19.75.
Melco Resorts & Entertainment (NASDAQ:MLCO) traded up 0.52% during mid-day trading on Tuesday, hitting $21.10. The stock had a trading volume of 8,530,326 shares. Melco Resorts & Entertainment has a 12-month low of $11.91 and a 12-month high of $23.50. The company has a 50-day moving average of $20.91 and a 200-day moving average of $18.20. The stock has a market cap of $10.31 billion and a price-to-earnings ratio of 41.87.
The company also recently announced a special dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th will be given a $0.09 dividend. This represents a yield of 1.68%. This is an increase from Melco Resorts & Entertainment’s previous special dividend of $0.02. The ex-dividend date of this dividend is Friday, May 12th.
Melco Resorts & Entertainment Company Profile
Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.
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