Analysts Expect Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Will Post Earnings of -$0.43 Per Share

Brokerages predict that Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) will post ($0.35) earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Melco Resorts & Entertainment’s earnings, with the highest EPS estimate coming in at ($0.26) and the lowest estimate coming in at ($0.44). Melco Resorts & Entertainment also posted earnings of ($0.35) per share during the same quarter last year. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Melco Resorts & Entertainment will report full-year earnings of ($1.39) per share for the current financial year. For the next year, analysts forecast that the company will post earnings of $0.09 per share, with EPS estimates ranging from $0.01 to $0.16. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last issued its earnings results on Tuesday, March 1st. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.08. Melco Resorts & Entertainment had a negative net margin of 38.72% and a negative return on equity of 71.99%. The company had revenue of $480.60 million during the quarter, compared to analysts’ expectations of $576.80 million. During the same period in the previous year, the company earned ($0.40) EPS. The business’s revenue for the quarter was down 9.0% compared to the same quarter last year.

A number of research analysts recently weighed in on MLCO shares. StockNews.com assumed coverage on shares of Melco Resorts & Entertainment in a research report on Thursday, March 31st. They set a “sell” rating on the stock. CICC Research downgraded shares of Melco Resorts & Entertainment from an “outperform” rating to a “market perform” rating in a research note on Monday, May 9th. Finally, Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Melco Resorts & Entertainment currently has an average rating of “Hold” and an average target price of $13.73.

Hedge funds have recently made changes to their positions in the stock. Capital International Sarl lifted its stake in Melco Resorts & Entertainment by 16.1% during the 1st quarter. Capital International Sarl now owns 104,295 shares of the company’s stock valued at $797,000 after acquiring an additional 14,462 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Melco Resorts & Entertainment by 25.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 271,403 shares of the company’s stock worth $2,074,000 after purchasing an additional 55,891 shares during the period. Worldquant Millennium Advisors LLC lifted its stake in shares of Melco Resorts & Entertainment by 651.1% in the 1st quarter. Worldquant Millennium Advisors LLC now owns 305,468 shares of the company’s stock worth $2,334,000 after purchasing an additional 264,798 shares during the period. Virtu Financial LLC bought a new position in shares of Melco Resorts & Entertainment in the 1st quarter worth approximately $131,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Melco Resorts & Entertainment in the 1st quarter worth approximately $454,000. 46.30% of the stock is currently owned by institutional investors.

NASDAQ:MLCO opened at $5.44 on Friday. Melco Resorts & Entertainment has a 12 month low of $4.06 and a 12 month high of $17.98. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -3.38 and a beta of 1.77. The firm has a fifty day simple moving average of $6.65 and a two-hundred day simple moving average of $9.09. The company has a current ratio of 2.44, a quick ratio of 2.41 and a debt-to-equity ratio of 10.79.

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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