Zacks: Brokerages Anticipate Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Will Post Quarterly Sales of $707.29 Million

Analysts forecast that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will announce $707.29 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Melco Resorts & Entertainment’s earnings, with the lowest sales estimate coming in at $699.20 million and the highest estimate coming in at $715.38 million. Melco Resorts & Entertainment posted sales of $1.36 billion in the same quarter last year, which suggests a negative year over year growth rate of 48%. The firm is scheduled to announce its next earnings results on Tuesday, May 5th.

According to Zacks, analysts expect that Melco Resorts & Entertainment will report full year sales of $4.48 billion for the current fiscal year, with estimates ranging from $4.40 billion to $4.61 billion. For the next financial year, analysts expect that the business will report sales of $5.65 billion, with estimates ranging from $5.45 billion to $5.79 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.13). Melco Resorts & Entertainment had a return on equity of 15.06% and a net margin of 6.48%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion.

Several equities research analysts have issued reports on MLCO shares. Zacks Investment Research raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Nomura dropped their price target on Melco Resorts & Entertainment from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, BidaskClub lowered Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. Melco Resorts & Entertainment currently has a consensus rating of “Buy” and a consensus price target of $26.27.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLCO. Carroll Financial Associates Inc. bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $36,000. Solstein Capital LLC bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $50,000. Vestcor Investment Management Corp bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $90,000. Quadrant Capital Group LLC lifted its stake in shares of Melco Resorts & Entertainment by 11.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,864 shares of the company’s stock valued at $136,000 after acquiring an additional 590 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $138,000. 36.02% of the stock is owned by institutional investors.

Shares of MLCO stock opened at $14.44 on Thursday. The company has a quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.51. The business has a 50-day moving average price of $17.77 and a two-hundred day moving average price of $20.85. Melco Resorts & Entertainment has a 12-month low of $11.34 and a 12-month high of $26.97. The firm has a market cap of $6.83 billion, a P/E ratio of 18.51 and a beta of 1.93.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, March 2nd were paid a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Friday, February 28th. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.17. Melco Resorts & Entertainment’s payout ratio is 69.15%.

Melco Resorts & Entertainment Company Profile

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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