Brokerages expect that Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) will announce sales of $1.2 billion for the current quarter, Zacks reports. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings, with estimates ranging from $1.19 billion to $1.21 billion. Melco Resorts & Entertainment posted sales of $1.07 billion during the same quarter last year, which would indicate a positive year over year growth rate of 12.1%. The company is scheduled to report its next earnings report on Thursday, August 3rd.
On average, analysts expect that Melco Resorts & Entertainment will report full year sales of $1.2 billion for the current financial year, with estimates ranging from $4.97 billion to $5.06 billion. For the next fiscal year, analysts expect that the business will report sales of $5.22 billion per share, with estimates ranging from $4.95 billion to $5.4 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Melco Resorts & Entertainment.
Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Thursday, May 4th. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.16. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.20 billion. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 EPS.
Several research analysts have recently commented on the company. Aegis raised their price objective on Melco Resorts & Entertainment from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, May 15th. TheStreet raised Melco Resorts & Entertainment from a “c+” rating to a “b-” rating in a research note on Thursday, May 4th. Nomura reaffirmed a “hold” rating and issued a $19.00 price objective on shares of Melco Resorts & Entertainment in a research note on Sunday, May 7th. Credit Suisse Group AG set a $23.00 price objective on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research note on Thursday, May 4th. Finally, Zacks Investment Research raised Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, May 3rd. 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 company’s stock. The company currently has an average rating of “Buy” and an average price target of $19.75.
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Melco Resorts & Entertainment (NASDAQ:MLCO) traded up 0.52% on Thursday, reaching $21.10. The company’s stock had a trading volume of 8,530,326 shares. The stock has a market cap of $10.31 billion and a P/E ratio of 41.87. The stock has a 50-day moving average of $20.91 and a 200-day moving average of $18.20. Melco Resorts & Entertainment has a one year low of $11.91 and a one year high of $23.50.
The company also recently declared a special dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th will be issued a dividend of $0.09 per share. This represents a yield of 1.68%. The ex-dividend date of this dividend is Friday, May 12th. This is a boost from Melco Resorts & Entertainment’s previous special dividend of $0.02.
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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