Melco Resorts & Entertainment (NASDAQ:MLCO) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Melco Resorts & Entertainment (NASDAQ:MLCO) released its quarterly earnings data on Tuesday. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02, Briefing.com reports. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. The company’s revenue was up 55.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) earnings per share.

Melco Resorts & Entertainment Stock Up 0.6 %

Shares of MLCO traded up $0.04 on Wednesday, reaching $6.58. The stock had a trading volume of 1,343,672 shares, compared to its average volume of 3,154,118. The firm has a market capitalization of $2.93 billion, a PE ratio of -10.46 and a beta of 1.11. The firm has a 50-day moving average of $7.18 and a 200 day moving average of $7.82. Melco Resorts & Entertainment has a twelve month low of $6.10 and a twelve month high of $13.91.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $9.60 price objective on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. Susquehanna reduced their price objective on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a research note on Monday. Finally, StockNews.com raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.78.

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.