Melco Resorts & Entertainment (MLCO) Scheduled to Post Earnings on Tuesday

Melco Resorts & Entertainment (NASDAQ:MLCO) is set to post its quarterly earnings results before the market opens on Tuesday, November 5th. Analysts expect Melco Resorts & Entertainment to post earnings of $0.20 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Melco Resorts & Entertainment had a negative net margin of 3.11% and a negative return on equity of 11.59%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) earnings per share. 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

NASDAQ MLCO opened at $6.72 on Friday. Melco Resorts & Entertainment has a 1-year low of $4.78 and a 1-year high of $9.56. The business’s 50-day simple moving average is $6.56 and its 200-day simple moving average is $6.80.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $10.00 to $7.00 in a research note on Thursday, July 18th. Bank of America reduced their price objective on Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating on the stock in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.