Melco Resorts & Entertainment Ltd to Post FY2022 Earnings of $1.90 Per Share, Gabelli Forecasts (MLCO)

Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) – Investment analysts at Gabelli issued their FY2022 earnings per share (EPS) estimates for shares of Melco Resorts & Entertainment in a note issued to investors on Friday. Gabelli analyst A. Trivison expects that the company will earn $1.90 per share for the year.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Thursday, February 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). Melco Resorts & Entertainment had a net margin of 6.47% and a return on equity of 13.83%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.36 billion. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis.

MLCO has been the topic of a number of other reports. Roth Capital began coverage on Melco Resorts & Entertainment in a research report on Wednesday, November 1st. They issued a “buy” rating and a $34.00 target price on the stock. Zacks Investment Research lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. BidaskClub lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Goldman Sachs Group raised Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating in a research report on Sunday, February 4th. Finally, JPMorgan Chase & Co. raised Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and set a $32.00 price target on the stock in a research report on Tuesday, December 19th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Melco Resorts & Entertainment presently has an average rating of “Buy” and an average target price of $26.46.

Melco Resorts & Entertainment (NASDAQ:MLCO) opened at $26.52 on Monday. Melco Resorts & Entertainment has a 52-week low of $16.00 and a 52-week high of $30.49. The stock has a market capitalization of $12,963.54, a P/E ratio of 38.19, a price-to-earnings-growth ratio of 2.05 and a beta of 1.72. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.10 and a quick ratio of 1.07.

The business also recently disclosed a dividend, which will be paid on Wednesday, March 7th. Investors of record on Tuesday, February 20th will be paid a dividend of $0.135 per share. This is an increase from Melco Resorts & Entertainment’s previous dividend of $0.02. This represents a yield of 0.00512333965844402%. The ex-dividend date of this dividend is Friday, February 16th. Melco Resorts & Entertainment’s dividend payout ratio is presently 50.73%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in Melco Resorts & Entertainment by 6.5% during the 4th quarter. BlackRock Inc. now owns 17,208,627 shares of the company’s stock worth $499,739,000 after buying an additional 1,054,469 shares during the last quarter. Hardman Johnston Global Advisors LLC bought a new position in Melco Resorts & Entertainment during the 4th quarter worth $158,130,000. Arrowstreet Capital Limited Partnership grew its stake in Melco Resorts & Entertainment by 348.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 5,370,835 shares of the company’s stock worth $155,969,000 after buying an additional 4,171,924 shares during the last quarter. American Century Companies Inc. bought a new position in Melco Resorts & Entertainment during the 3rd quarter worth $90,957,000. Finally, Nicholas Investment Partners LP bought a new position in Melco Resorts & Entertainment during the 3rd quarter worth $84,420,000. Hedge funds and other institutional investors own 40.61% 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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