Melco Resorts & Entertainment (MLCO) Announces Earnings Results

Melco Resorts & Entertainment (NASDAQ:MLCO) announced its quarterly earnings data on Thursday. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03), Morningstar.com reports. Melco Resorts & Entertainment had a net margin of 6.47% and a return on equity of 13.91%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.36 billion. The firm’s revenue was up 11.7% compared to the same quarter last year.

Shares of Melco Resorts & Entertainment (NASDAQ MLCO) opened at $26.35 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.14. The firm has a market cap of $12,620.00, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 2.11 and a beta of 1.71. Melco Resorts & Entertainment has a twelve month low of $16.00 and a twelve month high of $30.49.

MLCO has been the topic of a number of recent research reports. TheStreet raised shares of Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. Daiwa Capital Markets raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Thursday, November 30th. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Thursday, January 4th. BidaskClub raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Finally, Nomura raised their price objective on shares of Melco Resorts & Entertainment from $29.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $26.46.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Inc. raised its holdings in Melco Resorts & Entertainment by 17.2% in the third quarter. Advisor Group Inc. now owns 15,863 shares of the company’s stock worth $383,000 after purchasing an additional 2,324 shares during the period. American International Group Inc. raised its holdings in Melco Resorts & Entertainment by 9.3% in the fourth quarter. American International Group Inc. now owns 30,776 shares of the company’s stock worth $894,000 after purchasing an additional 2,624 shares during the period. Sumitomo Mitsui Asset Management Company LTD raised its holdings in Melco Resorts & Entertainment by 18.8% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,001 shares of the company’s stock worth $638,000 after purchasing an additional 3,487 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Melco Resorts & Entertainment in the third quarter worth $112,000. Finally, LS Investment Advisors LLC acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth $129,000. Institutional investors own 41.39% of the company’s stock.

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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.

Earnings History for Melco Resorts & Entertainment (NASDAQ:MLCO)

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