-$0.39 EPS Expected for Melco Resorts & Entertainment Limited (NASDAQ:MLCO) This Quarter

Equities research analysts expect Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) to post earnings per share of ($0.39) for the current quarter, Zacks reports. Two analysts have made estimates for Melco Resorts & Entertainment’s earnings. The lowest EPS estimate is ($0.40) and the highest is ($0.38). Melco Resorts & Entertainment reported earnings per share of ($0.44) in the same quarter last year, which suggests a positive year-over-year growth rate of 11.4%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Melco Resorts & Entertainment will report full-year earnings of ($1.07) per share for the current year, with EPS estimates ranging from ($1.40) to ($0.41). For the next year, analysts forecast that the business will report earnings of $0.26 per share, with EPS estimates ranging from $0.17 to $0.34. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last announced its earnings results on Tuesday, March 1st. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.23. Melco Resorts & Entertainment had a negative return on equity of 61.79% and a negative net margin of 40.34%. The business had revenue of $480.60 million for the quarter, compared to analyst estimates of $576.80 million. During the same quarter last year, the firm earned ($0.40) EPS. Melco Resorts & Entertainment’s revenue for the quarter was down 9.0% compared to the same quarter last year.

Several brokerages recently commented on MLCO. Citigroup increased their target price on shares of Melco Resorts & Entertainment from $13.50 to $15.00 in a report on Tuesday, January 18th. StockNews.com started coverage on shares of Melco Resorts & Entertainment in a research note on Thursday, March 31st. They set a “sell” rating for the company. Finally, Zacks Investment Research downgraded Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, February 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.73.

Shares of NASDAQ MLCO traded up $0.32 during midday trading on Friday, reaching $6.86. The company’s stock had a trading volume of 63,271 shares, compared to its average volume of 4,396,287. The stock has a 50 day simple moving average of $8.92. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.83 and a quick ratio of 1.80. The company has a market cap of $3.33 billion, a PE ratio of -3.82 and a beta of 1.71. Melco Resorts & Entertainment has a fifty-two week low of $5.75 and a fifty-two week high of $20.09.

A number of institutional investors have recently bought and sold shares of MLCO. Invesco Ltd. increased its holdings in shares of Melco Resorts & Entertainment by 65.0% in the second quarter. Invesco Ltd. now owns 70,796 shares of the company’s stock valued at $1,172,000 after purchasing an additional 27,887 shares during the last quarter. Capital International Ltd. CA grew its stake in Melco Resorts & Entertainment by 21.9% in the 3rd quarter. Capital International Ltd. CA now owns 38,008 shares of the company’s stock valued at $389,000 after buying an additional 6,823 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Melco Resorts & Entertainment by 222.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 46,810 shares of the company’s stock valued at $479,000 after acquiring an additional 32,292 shares during the period. Integrated Investment Consultants LLC lifted its position in Melco Resorts & Entertainment by 5.2% during the fourth quarter. Integrated Investment Consultants LLC now owns 51,120 shares of the company’s stock worth $521,000 after acquiring an additional 2,520 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Melco Resorts & Entertainment by 0.8% during the third quarter. Mackenzie Financial Corp now owns 1,308,694 shares of the company’s stock worth $13,401,000 after acquiring an additional 9,803 shares during the period. Institutional investors and hedge funds own 38.85% of the company’s stock.

About Melco Resorts & Entertainment (Get Rating)

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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