Analysts Anticipate Melco Resorts & Entertainment Limited (MLCO) to Post $0.24 Earnings Per Share

Analysts expect that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will report earnings of $0.24 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 $0.27 and the lowest estimate coming in at $0.20. Melco Resorts & Entertainment reported earnings per share of $0.20 in the same quarter last year, which would indicate a positive year over year growth rate of 20%. The company is expected to report its next earnings report on Thursday, February 14th.

According to Zacks, analysts expect that Melco Resorts & Entertainment will report full year earnings of $0.69 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.71. For the next fiscal year, analysts forecast that the company will report earnings of $0.92 per share, with EPS estimates ranging from $0.76 to $1.28. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that cover Melco Resorts & Entertainment.

A number of brokerages have recently issued reports on MLCO. TheStreet lowered Melco Resorts & Entertainment from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. Daiwa Capital Markets began coverage on Melco Resorts & Entertainment in a research note on Wednesday, January 23rd. They issued an “outperform” rating on the stock. BidaskClub raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday, November 27th. CLSA raised Melco Resorts & Entertainment from a “sell” rating to an “underperform” rating in a research note on Thursday, January 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Melco Resorts & Entertainment to $24.00 in a research note on Wednesday, January 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. Melco Resorts & Entertainment currently has an average rating of “Buy” and a consensus target price of $27.64.

Large investors have recently modified their holdings of the company. Seven Eight Capital LP boosted its stake in shares of Melco Resorts & Entertainment by 31.4% in the third quarter. Seven Eight Capital LP now owns 105,959 shares of the company’s stock worth $2,241,000 after acquiring an additional 25,300 shares during the last quarter. Capital International Ltd. CA lifted its position in Melco Resorts & Entertainment by 16.4% during the third quarter. Capital International Ltd. CA now owns 36,332 shares of the company’s stock worth $768,000 after buying an additional 5,123 shares in the last quarter. Perpetual Ltd purchased a new position in Melco Resorts & Entertainment during the third quarter worth approximately $16,926,000. Almanack Investment Partners LLC. purchased a new position in Melco Resorts & Entertainment during the fourth quarter worth approximately $130,000. Finally, Selz Capital LLC lifted its position in Melco Resorts & Entertainment by 100.6% during the third quarter. Selz Capital LLC now owns 341,000 shares of the company’s stock worth $7,212,000 after buying an additional 171,000 shares in the last quarter. 36.90% of the stock is currently owned by hedge funds and other institutional investors.

MLCO traded up $0.34 during trading on Friday, hitting $21.74. The company’s stock had a trading volume of 4,355,457 shares, compared to its average volume of 2,556,332. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 1.36. Melco Resorts & Entertainment has a twelve month low of $15.33 and a twelve month high of $32.95. The firm has a market cap of $10.58 billion, a P/E ratio of 23.63, a PEG ratio of 1.87 and a beta of 1.61.

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.

See Also: Net Margin

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