Equities analysts forecast that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will report earnings per share (EPS) of $0.22 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.18. Melco Resorts & Entertainment posted earnings of $0.31 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 29%. The firm is scheduled to announce its next earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Melco Resorts & Entertainment will report full-year earnings of $1.15 per share for the current fiscal year, with EPS estimates ranging from $1.07 to $1.23. For the next year, analysts anticipate that the firm will post earnings of $1.14 per share, with EPS estimates ranging from $0.85 to $1.57. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that that provide coverage for Melco Resorts & Entertainment.
Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Tuesday, July 24th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). Melco Resorts & Entertainment had a return on equity of 15.47% and a net margin of 7.83%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $0.07 EPS. Melco Resorts & Entertainment’s revenue for the quarter was down 5.3% compared to the same quarter last year.
MLCO has been the subject of a number of research analyst reports. Zacks Investment Research raised Melco Resorts & Entertainment from a “hold” rating to a “strong-buy” rating and set a $38.00 target price for the company in a research report on Tuesday, May 8th. Wolfe Research raised Melco Resorts & Entertainment from a “market perform” rating to an “outperform” rating in a research note on Tuesday, July 10th. BidaskClub raised Melco Resorts & Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 17th. ValuEngine raised Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $35.10 price objective (up from $34.40) on shares of Melco Resorts & Entertainment in a research note on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $32.24.
Several hedge funds have recently bought and sold shares of MLCO. Guggenheim Capital LLC boosted its holdings in shares of Melco Resorts & Entertainment by 28.6% during the fourth quarter. Guggenheim Capital LLC now owns 31,180 shares of the company’s stock worth $906,000 after purchasing an additional 6,934 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in Melco Resorts & Entertainment in the fourth quarter valued at $575,000. Global X Management Co. LLC boosted its holdings in Melco Resorts & Entertainment by 52.1% in the first quarter. Global X Management Co. LLC now owns 690,339 shares of the company’s stock valued at $20,006,000 after acquiring an additional 236,340 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in Melco Resorts & Entertainment in the first quarter valued at $1,449,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in Melco Resorts & Entertainment in the first quarter valued at $421,000. Institutional investors and hedge funds own 38.75% of the company’s stock.
Shares of Melco Resorts & Entertainment traded down $0.64, reaching $22.58, during trading hours on Tuesday, according to MarketBeat Ratings. The stock had a trading volume of 3,022,167 shares, compared to its average volume of 4,409,330. The stock has a market cap of $11.48 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.45. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 1.05. Melco Resorts & Entertainment has a fifty-two week low of $19.99 and a fifty-two week high of $32.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Monday, August 6th will be issued a dividend of $0.145 per share. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, August 3rd. This represents a $0.58 annualized dividend and a dividend yield of 2.57%. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is 61.96%.
About Melco Resorts & Entertainment
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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