Zacks: Analysts Anticipate Melco Resorts & Entertainment Ltd (MLCO) to Post $0.23 EPS

Wall Street brokerages expect Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) to post earnings of $0.23 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.17. Melco Resorts & Entertainment reported earnings of $0.13 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 76.9%. The firm is scheduled to issue its next quarterly earnings results on Thursday, February 15th.

On average, analysts expect that Melco Resorts & Entertainment will report full year earnings of $0.88 per share for the current year, with EPS estimates ranging from $0.80 to $1.00. For the next year, analysts expect that the business will report earnings of $1.06 per share, with EPS estimates ranging from $0.76 to $1.24. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Melco Resorts & Entertainment.

MLCO has been the subject of a number of analyst reports. TheStreet upgraded shares of Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. Daiwa Capital Markets upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research note on Thursday, November 30th. BidaskClub upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, September 27th. Finally, Nomura upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and upped their target price for the company from $20.00 to $29.00 in a research note on Tuesday, September 19th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Melco Resorts & Entertainment presently has a consensus rating of “Buy” and a consensus price target of $26.32.

Shares of Melco Resorts & Entertainment (MLCO) traded down $0.21 during trading on Friday, hitting $27.01. 7,124,000 shares of the stock were exchanged, compared to its average volume of 3,799,211. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.08 and a quick ratio of 1.07. Melco Resorts & Entertainment has a twelve month low of $16.00 and a twelve month high of $29.60. The firm has a market capitalization of $13,310.00, a PE ratio of 42.87, a price-to-earnings-growth ratio of 2.19 and a beta of 1.92.

A number of large investors have recently added to or reduced their stakes in MLCO. LS Investment Advisors LLC acquired a new position in Melco Resorts & Entertainment during the 3rd quarter valued at $129,000. APG Asset Management N.V. bought a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at $9,735,000. GRATRY & Co LLC bought a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at $639,000. Nationwide Fund Advisors bought a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at $1,396,000. Finally, Handelsbanken Fonder AB bought a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at $3,739,000. Hedge funds and other institutional investors own 41.31% of the company’s stock.

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Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

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