$0.27 EPS Expected for Melco Resorts & Entertainment Limited (MLCO) This Quarter

Equities research analysts forecast that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will announce $0.27 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings. The lowest EPS estimate is $0.18 and the highest is $0.38. Melco Resorts & Entertainment reported earnings per share of $0.20 during the same quarter last year, which would suggest a positive year-over-year growth rate of 35%. The firm is scheduled to announce its next earnings results on Thursday, February 14th.

On average, analysts expect that Melco Resorts & Entertainment will report full year earnings of $0.92 per share for the current fiscal year, with EPS estimates ranging from $0.60 to $1.23. For the next year, analysts anticipate that the company will post earnings of $1.03 per share, with EPS estimates ranging from $0.53 to $1.57. Zacks’ earnings per share averages are an average based on a survey of analysts that follow Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Thursday, November 8th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.18). The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.34 billion. Melco Resorts & Entertainment had a net margin of 7.83% and a return on equity of 15.47%. Melco Resorts & Entertainment’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share.

Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 26th. ValuEngine raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. BidaskClub lowered Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. TheStreet lowered Melco Resorts & Entertainment from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. Finally, Bank of America reaffirmed a “buy” rating and issued a $35.10 price objective (up from $34.40) on shares of Melco Resorts & Entertainment in a research note on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.73.

Several hedge funds have recently modified their holdings of MLCO. BlackRock Inc. lifted its stake in shares of Melco Resorts & Entertainment by 9.1% during the 2nd quarter. BlackRock Inc. now owns 24,200,196 shares of the company’s stock worth $677,605,000 after acquiring an additional 2,013,914 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Melco Resorts & Entertainment by 86.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,312,600 shares of the company’s stock worth $64,753,000 after acquiring an additional 1,071,800 shares during the last quarter. Hardman Johnston Global Advisors LLC lifted its stake in shares of Melco Resorts & Entertainment by 11.4% during the 3rd quarter. Hardman Johnston Global Advisors LLC now owns 9,892,435 shares of the company’s stock worth $209,225,000 after acquiring an additional 1,011,558 shares during the last quarter. Flowering Tree Investment Management Pte. Ltd. lifted its stake in shares of Melco Resorts & Entertainment by 44.8% during the 3rd quarter. Flowering Tree Investment Management Pte. Ltd. now owns 3,245,803 shares of the company’s stock worth $68,649,000 after acquiring an additional 1,003,934 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Melco Resorts & Entertainment by 602.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,150,155 shares of the company’s stock worth $24,326,000 after acquiring an additional 986,500 shares during the last quarter. 39.38% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:MLCO opened at $15.60 on Wednesday. The company has a market capitalization of $8.98 billion, a PE ratio of 16.96, a P/E/G ratio of 1.53 and a beta of 1.64. Melco Resorts & Entertainment has a 1 year low of $15.33 and a 1 year high of $32.95. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.02.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Investors of record on Monday, November 19th will be paid a dividend of $0.1451 per share. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. This represents a $0.58 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, November 16th. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is currently 61.96%.

Melco Resorts & Entertainment Company Profile

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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