Analysts Expect Melco Resorts & Entertainment Limited (MLCO) Will Announce Earnings of $0.24 Per Share

Wall Street brokerages predict that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will post $0.24 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Melco Resorts & Entertainment’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.18. Melco Resorts & Entertainment posted earnings of $0.34 per share in the same quarter last year, which indicates a negative year over year growth rate of 29.4%. The firm is expected to announce its next earnings report on Thursday, May 2nd.

On average, analysts expect that Melco Resorts & Entertainment will report full year earnings of $0.96 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $1.28. For the next year, analysts anticipate that the company will report earnings of $1.20 per share, with EPS estimates ranging from $0.78 to $1.50. Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Tuesday, February 19th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The firm had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.37 billion. Melco Resorts & Entertainment had a net margin of 6.81% and a return on equity of 13.92%. Melco Resorts & Entertainment’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.17 EPS.

MLCO has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. CLSA upgraded shares of Melco Resorts & Entertainment from a “sell” rating to an “underperform” rating in a research report on Thursday, January 3rd. BidaskClub upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Citigroup set a $29.00 price target on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Thursday, December 6th. Finally, Daiwa Capital Markets assumed coverage on shares of Melco Resorts & Entertainment in a research report on Wednesday, January 23rd. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. Melco Resorts & Entertainment currently has an average rating of “Buy” and an average price target of $28.14.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLCO. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Melco Resorts & Entertainment by 1.9% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 810,558 shares of the company’s stock worth $17,143,000 after purchasing an additional 15,000 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Melco Resorts & Entertainment by 9.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,128,578 shares of the company’s stock worth $45,020,000 after purchasing an additional 179,600 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Melco Resorts & Entertainment by 3.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 309,630 shares of the company’s stock worth $6,548,000 after purchasing an additional 11,641 shares in the last quarter. FIL Ltd raised its holdings in shares of Melco Resorts & Entertainment by 3.4% in the 3rd quarter. FIL Ltd now owns 809,156 shares of the company’s stock worth $17,113,000 after purchasing an additional 26,819 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Melco Resorts & Entertainment by 602.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,150,155 shares of the company’s stock worth $24,326,000 after purchasing an additional 986,500 shares in the last quarter. Institutional investors and hedge funds own 32.97% of the company’s stock.

Melco Resorts & Entertainment stock traded up $0.56 during midday trading on Monday, reaching $22.59. 1,513,160 shares of the stock traded hands, compared to its average volume of 2,391,010. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.23 and a beta of 1.62. Melco Resorts & Entertainment has a fifty-two week low of $15.33 and a fifty-two week high of $32.95.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.74%. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, March 1st. Melco Resorts & Entertainment’s payout ratio is 68.54%.

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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