Melco Resorts & Entertainment (MLCO) Set to Announce Earnings on Tuesday

Melco Resorts & Entertainment (NASDAQ:MLCO) will issue its quarterly earnings data before the market opens on Tuesday, November 5th. Analysts expect Melco Resorts & Entertainment to post earnings of $0.20 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Tuesday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.05). Melco Resorts & Entertainment had a negative return on equity of 11.59% and a negative net margin of 3.11%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the firm posted ($0.02) earnings per share. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts expect Melco Resorts & Entertainment to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO opened at $6.72 on Monday. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -21.00, a PEG ratio of 0.78 and a beta of 1.07. The company’s 50 day moving average price is $6.56 and its 200-day moving average price is $6.80. Melco Resorts & Entertainment has a 52 week low of $4.78 and a 52 week high of $9.56.

Analyst Ratings Changes

Several research firms recently commented on MLCO. Bank of America reduced their price objective on Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating for the company in a report on Monday, August 12th. JPMorgan Chase & Co. cut shares of Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.00 in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Melco Resorts & Entertainment has an average rating of “Moderate Buy” and an average target price of $9.82.

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.