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

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

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Thursday, February 29th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.14 billion. The firm’s revenue for the quarter was up 224.4% on a year-over-year basis. During the same period last year, the company earned ($0.51) EPS. 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 NASDAQ MLCO traded up $0.14 during mid-day trading on Friday, hitting $6.45. 445,399 shares of the company’s stock traded hands, compared to its average volume of 3,038,682. The company’s 50-day moving average is $7.32 and its two-hundred day moving average is $7.90. The company has a market capitalization of $2.87 billion, a P/E ratio of -10.27 and a beta of 1.11. Melco Resorts & Entertainment has a 1 year low of $6.10 and a 1 year high of $14.00.

Analysts Set New Price Targets

A number of research firms recently weighed in on MLCO. StockNews.com raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Morgan Stanley reiterated an “equal weight” rating and set a $9.60 price objective on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.