Equities research analysts forecast that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will post $526.82 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Melco Resorts & Entertainment’s earnings. The lowest sales estimate is $526.00 million and the highest is $527.64 million. Melco Resorts & Entertainment reported sales of $1.45 billion during the same quarter last year, which indicates a negative year over year growth rate of 63.7%. The business is expected to report its next earnings report on Thursday, February 18th.
According to Zacks, analysts expect that Melco Resorts & Entertainment will report full year sales of $1.74 billion for the current financial year, with estimates ranging from $1.72 billion to $1.76 billion. For the next year, analysts anticipate that the firm will report sales of $4.12 billion, with estimates ranging from $3.89 billion to $4.28 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Melco Resorts & Entertainment.
Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.25. The business had revenue of $212.90 million during the quarter, compared to analysts’ expectations of $299.78 million. Melco Resorts & Entertainment had a negative return on equity of 45.84% and a negative net margin of 37.56%.
MLCO has been the topic of several research analyst reports. Roth Capital cut their target price on Melco Resorts & Entertainment from $35.00 to $30.00 and set a “positive” rating on the stock in a research report on Thursday, November 5th. Credit Suisse Group lowered Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $24.60 to $18.70 in a research report on Monday, September 21st. Zacks Investment Research lowered Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Tuesday, January 5th. JPMorgan Chase & Co. raised their target price on Melco Resorts & Entertainment from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 17th. Finally, Macquarie lowered Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating and set a $20.00 target price on the stock. in a research report on Thursday, January 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $22.39.
Hedge funds have recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Melco Resorts & Entertainment by 8.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 7,900 shares of the company’s stock valued at $132,000 after purchasing an additional 600 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at approximately $176,000. Raymond James & Associates purchased a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at approximately $177,000. Guggenheim Capital LLC purchased a new position in shares of Melco Resorts & Entertainment in the 3rd quarter valued at approximately $177,000. Finally, AQR Capital Management LLC purchased a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at approximately $184,000. Institutional investors own 41.69% of the company’s stock.
Shares of NASDAQ MLCO opened at $16.43 on Monday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.66 and a current ratio of 1.69. Melco Resorts & Entertainment has a fifty-two week low of $10.81 and a fifty-two week high of $25.08. The firm has a market capitalization of $7.56 billion, a PE ratio of -7.86, a price-to-earnings-growth ratio of 135.39 and a beta of 1.76. The stock’s 50-day simple moving average is $18.54 and its 200-day simple moving average is $17.61.
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.
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