Brokers expect Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to post quarterly sales of $535.73 million


Brokers expect Melco Resorts & Entertainment Limited (NASDAQ: MLCOGet a rating) will announce revenue of $535.73 million for the current fiscal quarter, according to Zacks. Two analysts made earnings estimates for Melco Resorts & Entertainment. The lowest sales estimate is $444.27 million and the highest is $627.19 million. Melco Resorts & Entertainment recorded sales of $566.44 million in the same quarter last year, which would indicate a negative growth rate of 5.4% year over year. The company is due to release its next results on Monday, January 1.

On average, analysts expect Melco Resorts & Entertainment to report annual sales of $2.13 billion for the current fiscal year, with estimates ranging from $2.10 billion to $2.16 billion. For the next fiscal year, analysts expect the company to record sales of $4.08 billion, with estimates ranging from $3.87 billion to $4.30 billion. Zacks sales calculations are an average based on a survey of sell-side research analysts who track Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ: MLCOGet a rating) last released its quarterly results on Tuesday, March 1. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.40) by $0.08. Melco Resorts & Entertainment recorded a negative return on equity of 71.99% and a negative net margin of 38.72%. The company posted revenue of $480.60 million for the quarter, compared to $576.80 million expected by analysts. During the same period of the previous year, the company achieved EPS of ($0.40). The company’s revenue for the quarter decreased 9.0% compared to the same quarter last year.

MLCO has been the subject of several research reports. Zacks Investment Research upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a Wednesday, May 11 research report. CICC Research downgraded Melco Resorts & Entertainment from an “outperforming” rating to a “market performing” rating in a Monday, May 9 research note. To finish, StockNews.com launched coverage on Melco Resorts & Entertainment in a research note on Thursday, March 31. They issued a “sell” rating for the company. One investment analyst gave the stock a sell rating, three gave the company a hold rating and four gave the company a buy rating. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $13.73.

Several large investors have recently bought and sold shares of MLCO. Amundi Pioneer Asset Management Inc. increased its stake in shares of Melco Resorts & Entertainment by 4.5% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 232,975 shares of the company valued at $5,263,000 after acquiring an additional 10,046 shares in the last quarter. Raymond James & Associates increased its position in Melco Resorts & Entertainment by 45.0% in the third quarter. Raymond James & Associates now owns 34,031 shares of the company worth $348,000 after purchasing an additional 10,569 shares in the last quarter. Advisor Group Holdings Inc. increased its position in Melco Resorts & Entertainment by 64.8% in Q3. Advisor Group Holdings Inc. now owns 13,415 shares of the company worth $138,000 after purchasing an additional 5,276 shares in the last quarter. BlackRock Inc. increased its position in Melco Resorts & Entertainment by 2.3% in the third quarter. BlackRock Inc. now owns 10,881,811 shares of the company worth $111,433,000 after purchasing an additional 243,616 shares in the last quarter. Finally, CIBC Asset Management Inc. increased its position in Melco Resorts & Entertainment by 4.7% in Q3. CIBC Asset Management Inc. now owns 22,255 shares of the company worth $228,000 after purchasing an additional 989 shares in the last quarter. Institutional investors hold 46.30% of the company’s shares.

Action by Melco Resorts & Entertainment opened at $5.46 on Friday. The company has a debt ratio of 10.79, a quick ratio of 2.41 and a current ratio of 2.44. Melco Resorts & Entertainment has a one-year minimum of $4.06 and a one-year maximum of $17.98. The stock has a fifty-day moving average of $6.61 and a 200-day moving average of $9.01. The stock has a market capitalization of $2.65 billion, a PE ratio of -3.39 and a beta of 1.77.

Company Profile Melco Resorts & Entertainment (Get a rating)

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates casino gaming and entertainment facilities in Asia. It owns and operates City of Dreams, an integrated casino complex that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage auditorium 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, spas and salons, as well as banquet and meeting facilities.

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