Melco Resorts & Entertainment (MLCO) will release earnings results on Wednesday

Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) is scheduled to report its earnings results before the market opens on Wednesday, November 2nd. Analysts are expecting the company to report earnings per share of ($0.56) for the quarter.

Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last released its quarterly earnings data on Thursday, August 18th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.01. Melco Resorts & Entertainment had a negative return on equity of 106.14% and a negative net margin of 48.76%. The company had revenue of $296.11 million for the quarter, compared to the consensus estimate of $383.51 million. On average, analysts expect Melco Resorts & Entertainment to report earnings per share of -$2 for the current fiscal year and -$1 for the next fiscal year.

Melco Resorts & Entertainment stock performance

Shares of MLCO stock fell $0.02 on Friday midday to hit $4.85. The company had a trading volume of 78,889 shares compared to its average volume of 6,351,428. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -2.78 and a beta of 1.25. The company has a debt to equity ratio of 21.09, a current ratio of 2.36 and a quick ratio of 2.33. The company’s 50-day simple moving average is $6.00 and its 200-day simple moving average is $5.73. Melco Resorts & Entertainment has a 52-week low of $4.06 and a 52-week high of $12.40.

Wall Street analyst ponders

MLCO has been the subject of a number of analyst reports. StockNews.com upgraded shares of Melco Resorts & Entertainment to a “sell” in a research report Thursday. Credit Suisse Group downgraded shares of Melco Resorts & Entertainment from an outperform rating to a neutral rating in a report Monday, October 17. Finally, Citigroup raised its price target for shares of Melco Resorts & Entertainment to $11.50 from $11.00 and gave the stock a buy rating in a report on Monday, September 26. One research analyst has rated the stock with a sell rating, two have given it a hold rating and two have given it a buy rating. According to data from MarketBeat.com, Melco Resorts & Entertainment currently has an average rating of Hold and a consensus price target of $12.25.

Institutional inflows and outflows

Several major investors have recently bought and sold shares in MLCO. Creative Planning purchased a new position in Melco Resorts & Entertainment stock worth $105,000 during the second quarter. XTX Topco Ltd acquired a new position in Melco Resorts & Entertainment valued at approximately $110,000 during the first quarter. Toroso Investments LLC increased its position in shares of Melco Resorts & Entertainment by 30.1% in the first quarter. Toroso Investments LLC now owns 17,040 shares of the company’s stock valued at $130,000, having purchased an additional 3,942 shares during the period. Virtu Financial LLC acquired a new interest in Melco Resorts & Entertainment stock valued at approximately $131,000 during the first quarter. Finally, during the first quarter, Neuberger Berman Group LLC acquired a new interest in Melco Resorts & Entertainment valued at approximately $160,000. Hedge funds and other institutional investors own 35.87% of the company’s shares.

Company Profile of Melco Resorts & Entertainment

(received rating)

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates casino gaming and casino entertainment resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort with 500 gaming tables and 800 slot machines; approx. 1,400 hotel rooms and suites; an approximately 2,000-seat wet stage performance theater; 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.

Selected items

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

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