Free Trial

Melco Resorts & Entertainment (MLCO) Set to Announce Earnings on Tuesday

Melco Resorts & Entertainment logo with Consumer Discretionary background

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) is scheduled to be issuing its quarterly earnings data before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $0.20 per share for the quarter.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). Melco Resorts & Entertainment had a negative return on equity of 11.59% and a negative net margin of 3.11%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm posted ($0.02) EPS. The business's revenue was up 22.3% compared to the same quarter last year. On average, analysts expect Melco Resorts & Entertainment to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Melco Resorts & Entertainment Price Performance

MLCO traded down $0.13 on Thursday, reaching $6.72. 3,232,774 shares of the stock were exchanged, compared to its average volume of 3,324,147. The company's 50-day moving average price is $6.52 and its 200 day moving average price is $6.80. Melco Resorts & Entertainment has a fifty-two week low of $4.78 and a fifty-two week high of $9.56. The firm has a market capitalization of $2.98 billion, a PE ratio of -16.31, a PEG ratio of 0.80 and a beta of 1.06.

Analyst Upgrades and Downgrades

MLCO has been the subject of a number of research reports. Bank of America lowered their price target on Melco Resorts & Entertainment from $8.50 to $7.50 and set a "buy" rating for the company in a research report on Monday, August 12th. JPMorgan Chase & Co. cut Melco Resorts & Entertainment from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $10.00 to $7.00 in a research report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.82.

Check Out Our Latest Report on MLCO

About Melco Resorts & Entertainment

(Get Free Report)

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.

Featured Articles

Earnings History for Melco Resorts & Entertainment (NASDAQ:MLCO)

Should you invest $1,000 in Melco Resorts & Entertainment right now?

Before you consider Melco Resorts & Entertainment, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Melco Resorts & Entertainment wasn't on the list.

While Melco Resorts & Entertainment currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2024 Cover

With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Top 3 Stocks Under $20 with Strong Buy Ratings and Growth Potential

Top 3 Stocks Under $20 with Strong Buy Ratings and Growth Potential

Looking for top stock picks under $20 with strong growth potential? We dive into 3 affordable stocks with high ratings and projected growth of at least 15%!

Related Videos

Unusual Rally: Gold and Dollar Rise Simultaneously
Stock Market Volatility: Election Season Strategies for Investors

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines