Equities research analysts expect that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will report $0.33 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.27. Melco Resorts & Entertainment reported earnings of $0.31 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.5%. The firm is expected to issue its next earnings results on Tuesday, February 18th.
According to Zacks, analysts expect that Melco Resorts & Entertainment will report full-year earnings of $1.01 per share for the current financial year, with EPS estimates ranging from $0.92 to $1.05. For the next financial year, analysts forecast that the business will post earnings of $1.30 per share, with EPS estimates ranging from $1.13 to $1.47. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Melco Resorts & Entertainment.
Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Melco Resorts & Entertainment had a net margin of 7.60% and a return on equity of 17.61%. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.05 EPS.
A number of research firms have recently commented on MLCO. BidaskClub cut Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine raised Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research note on Friday, December 20th. Finally, Zacks Investment Research cut Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 9th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $24.49.
Shares of MLCO traded up $0.80 during mid-day trading on Thursday, reaching $25.02. 2,868,000 shares of the company’s stock traded hands, compared to its average volume of 2,068,908. The stock has a market cap of $12.37 billion, a P/E ratio of 24.86, a P/E/G ratio of 1.01 and a beta of 1.88. The stock’s 50-day moving average is $23.47 and its two-hundred day moving average is $21.97. Melco Resorts & Entertainment has a 12 month low of $18.68 and a 12 month high of $26.97. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.89 and a quick ratio of 0.88.
Several hedge funds and other institutional investors have recently made changes to their positions in MLCO. Carroll Financial Associates Inc. purchased a new stake in shares of Melco Resorts & Entertainment in the fourth quarter valued at approximately $36,000. Usca Ria LLC purchased a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $39,000. Tower Research Capital LLC TRC boosted its holdings in shares of Melco Resorts & Entertainment by 2,725.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,882 shares of the company’s stock valued at $62,000 after purchasing an additional 2,780 shares during the period. Westwood Holdings Group Inc. purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter valued at approximately $165,000. Finally, Private Trust Co. NA boosted its holdings in shares of Melco Resorts & Entertainment by 11.3% in the third quarter. Private Trust Co. NA now owns 10,651 shares of the company’s stock valued at $206,000 after purchasing an additional 1,081 shares during the period. Hedge funds and other institutional investors own 35.32% 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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