Zacks: Analysts Anticipate Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to Announce $0.27 EPS

Equities research analysts expect that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will post earnings per share of $0.27 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.28. Melco Resorts & Entertainment reported earnings of $0.04 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 575%. The firm is scheduled to announce its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Melco Resorts & Entertainment will report full year earnings of $1.03 per share for the current financial year, with EPS estimates ranging from $0.94 to $1.07. For the next year, analysts anticipate that the firm will report earnings of $1.28 per share, with EPS estimates ranging from $1.20 to $1.35. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Wednesday, July 24th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Melco Resorts & Entertainment had a net margin of 6.55% and a return on equity of 14.53%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis.



MLCO has been the topic of a number of research reports. Goldman Sachs Group set a $27.00 target price on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a report on Tuesday, May 28th. Nomura reiterated a “buy” rating and issued a $15.00 target price on shares of Melco Resorts & Entertainment in a report on Tuesday. Wolfe Research downgraded shares of Melco Resorts & Entertainment from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 8th. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, ValuEngine downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. Melco Resorts & Entertainment currently has a consensus rating of “Buy” and an average target price of $25.79.

Several institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC acquired a new stake in shares of Melco Resorts & Entertainment in the second quarter worth $219,643,000. Jane Street Group LLC lifted its stake in shares of Melco Resorts & Entertainment by 201.8% in the second quarter. Jane Street Group LLC now owns 229,479 shares of the company’s stock worth $4,984,000 after buying an additional 153,447 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Melco Resorts & Entertainment in the second quarter worth $2,214,000. Cubist Systematic Strategies LLC lifted its stake in shares of Melco Resorts & Entertainment by 28.7% in the second quarter. Cubist Systematic Strategies LLC now owns 34,574 shares of the company’s stock worth $751,000 after buying an additional 7,706 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Melco Resorts & Entertainment in the second quarter worth $44,932,000. 34.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ MLCO traded up $0.81 during midday trading on Friday, reaching $20.04. The company’s stock had a trading volume of 1,893,680 shares, compared to its average volume of 2,469,159. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 1.47. The company has a 50 day moving average price of $22.65 and a 200 day moving average price of $22.61. Melco Resorts & Entertainment has a one year low of $15.33 and a one year high of $26.97. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 0.88 and a beta of 1.76.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a $0.1651 dividend. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. This represents a $0.66 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Friday, August 2nd. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is 73.03%.

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.

Featured Story: What is a capital gain?

Get a free copy of the Zacks research report on Melco Resorts & Entertainment (MLCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.