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

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.

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.