Brokerages Expect Melco Resorts & Entertainment Limited (MLCO) Will Post Earnings of $0.22 Per Share

Equities research analysts forecast that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will report earnings of $0.22 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Melco Resorts & Entertainment’s earnings, with estimates ranging from $0.18 to $0.26. Melco Resorts & Entertainment reported earnings of $0.31 per share in the same quarter last year, which suggests a negative year over year growth rate of 29%. The business is scheduled to announce its next earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Melco Resorts & Entertainment will report full year earnings of $1.15 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.23. For the next financial year, analysts forecast that the business will report earnings of $1.14 per share, with EPS estimates ranging from $0.85 to $1.57. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Tuesday, July 24th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.05). Melco Resorts & Entertainment had a return on equity of 15.47% and a net margin of 7.83%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm posted $0.07 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis.

A number of research analysts have weighed in on the stock. BidaskClub cut shares of Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 11th. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 26th. ValuEngine cut shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Wolfe Research upgraded shares of Melco Resorts & Entertainment from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 10th. Finally, UBS Group cut shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $33.16.

MLCO stock traded up $0.27 during mid-day trading on Monday, reaching $20.84. 5,925,024 shares of the stock traded hands, compared to its average volume of 3,795,805. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 1.05. Melco Resorts & Entertainment has a one year low of $19.10 and a one year high of $32.95. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.45 and a beta of 1.53.

Hedge funds have recently bought and sold shares of the business. Financial Gravity Wealth Inc. bought a new position in shares of Melco Resorts & Entertainment in the first quarter worth about $103,000. Blackhawk Capital Partners LLC. bought a new position in shares of Melco Resorts & Entertainment in the first quarter worth about $136,000. FNY Investment Advisers LLC bought a new position in shares of Melco Resorts & Entertainment in the second quarter worth about $201,000. Rothschild Investment Corp IL bought a new position in shares of Melco Resorts & Entertainment in the second quarter worth about $202,000. Finally, Winfield Associates Inc. bought a new position in shares of Melco Resorts & Entertainment in the first quarter worth about $203,000. Institutional investors and hedge funds own 40.50% of the company’s stock.

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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