Melco Resorts & Entertainment (MLCO) to Release Earnings on Tuesday

Melco Resorts & Entertainment (NASDAQ:MLCO) is set to release its earnings data before the market opens on Tuesday, April 30th. Analysts expect Melco Resorts & Entertainment to post earnings of $0.02 per share for the quarter.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the company earned ($0.51) earnings per share. The firm’s revenue for the quarter was up 224.4% on a year-over-year basis. On average, analysts expect Melco Resorts & Entertainment to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Melco Resorts & Entertainment Price Performance

Shares of MLCO stock traded up $0.14 during trading hours on Friday, reaching $6.45. 445,399 shares of the stock were exchanged, compared to its average volume of 3,038,682. The business’s fifty day moving average is $7.32 and its two-hundred day moving average is $7.90. Melco Resorts & Entertainment has a 12-month low of $6.10 and a 12-month high of $14.00. The firm has a market capitalization of $2.87 billion, a P/E ratio of -10.27 and a beta of 1.11.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley restated an “equal weight” rating and set a $9.60 target price on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.78.

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.