Melco Resorts & Entertainment Limited (MLCO) Expected to Announce Quarterly Sales of $1.27 Billion

Equities analysts expect Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to announce sales of $1.27 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Melco Resorts & Entertainment’s earnings, with the lowest sales estimate coming in at $1.22 billion and the highest estimate coming in at $1.31 billion. Melco Resorts & Entertainment reported sales of $1.23 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.3%. The business is scheduled to announce its next earnings report on Tuesday, July 23rd.

According to Zacks, analysts expect that Melco Resorts & Entertainment will report full-year sales of $5.38 billion for the current year, with estimates ranging from $5.25 billion to $5.46 billion. For the next year, analysts expect that the business will report sales of $5.52 billion, with estimates ranging from $5.10 billion to $5.86 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. Melco Resorts & Entertainment had a return on equity of 13.47% and a net margin of 6.00%. Melco Resorts & Entertainment’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS.

A number of research firms have recently issued reports on MLCO. Zacks Investment Research lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. CLSA upgraded Melco Resorts & Entertainment from an “underperform” rating to an “outperform” rating in a research report on Tuesday, February 19th. Daiwa Capital Markets initiated coverage on Melco Resorts & Entertainment in a research report on Wednesday, January 23rd. They issued an “outperform” rating for the company. China Renaissance Securities upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Finally, JPMorgan Chase & Co. increased their price objective on Melco Resorts & Entertainment to $24.00 in a research report on Wednesday, January 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Melco Resorts & Entertainment currently has a consensus rating of “Buy” and a consensus price target of $28.13.

Several hedge funds and other institutional investors have recently made changes to their positions in MLCO. Hanson & Doremus Investment Management boosted its holdings in Melco Resorts & Entertainment by 7.1% in the 4th quarter. Hanson & Doremus Investment Management now owns 45,189 shares of the company’s stock valued at $796,000 after purchasing an additional 2,991 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its holdings in Melco Resorts & Entertainment by 7.4% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 174,000 shares of the company’s stock valued at $3,831,000 after purchasing an additional 12,000 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in Melco Resorts & Entertainment in the 4th quarter valued at approximately $130,000. PNC Financial Services Group Inc. boosted its holdings in Melco Resorts & Entertainment by 3.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 320,908 shares of the company’s stock valued at $5,653,000 after purchasing an additional 11,278 shares in the last quarter. Finally, Flowering Tree Investment Management Pte. Ltd. boosted its holdings in Melco Resorts & Entertainment by 7.1% in the 4th quarter. Flowering Tree Investment Management Pte. Ltd. now owns 3,475,123 shares of the company’s stock valued at $61,232,000 after purchasing an additional 229,320 shares in the last quarter. Institutional investors and hedge funds own 32.95% of the company’s stock.

NASDAQ MLCO opened at $22.22 on Friday. The stock has a market capitalization of $11.10 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 1.19 and a beta of 1.64. Melco Resorts & Entertainment has a twelve month low of $15.33 and a twelve month high of $32.93. The company has a quick ratio of 0.90, a current ratio of 1.05 and a debt-to-equity ratio of 1.51.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 20th will be paid a $0.1551 dividend. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. This represents a $0.62 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, May 17th. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is presently 68.54%.

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.

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