Melco Resorts & Entertainment Limited (MLCO) Expected to Post Quarterly Sales of $1.31 Billion

Analysts expect Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to post $1.31 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Melco Resorts & Entertainment’s earnings. The lowest sales estimate is $1.25 billion and the highest is $1.36 billion. Melco Resorts & Entertainment posted sales of $1.33 billion during the same quarter last year, which would indicate a negative year over year growth rate of 1.5%. The business is expected to announce its next earnings results on Thursday, February 14th.

On average, analysts expect that Melco Resorts & Entertainment will report full-year sales of $5.15 billion for the current fiscal year, with estimates ranging from $5.01 billion to $5.31 billion. For the next year, analysts expect that the firm will post sales of $5.34 billion, with estimates ranging from $5.18 billion to $5.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Melco Resorts & Entertainment.

Several equities analysts have issued reports on the company. Zacks Investment Research lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Friday, February 8th. Daiwa Capital Markets initiated coverage on Melco Resorts & Entertainment in a research report on Wednesday, January 23rd. They set an “outperform” rating for the company. JPMorgan Chase & Co. boosted their price objective on Melco Resorts & Entertainment to $24.00 in a research report on Wednesday, January 23rd. They noted that the move was a valuation call. BidaskClub upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Finally, CLSA raised Melco Resorts & Entertainment from a “sell” rating to an “underperform” rating in a research note on Thursday, January 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $27.64.

MLCO stock traded up $0.09 during midday trading on Friday, reaching $22.02. The company’s stock had a trading volume of 68,469 shares, compared to its average volume of 2,406,279. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 1.36. Melco Resorts & Entertainment has a 1 year low of $15.33 and a 1 year high of $32.95. The firm has a market cap of $10.94 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.87 and a beta of 1.61.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLCO. Ayalon Holdings Ltd. purchased a new position in Melco Resorts & Entertainment during the fourth quarter worth $58,000. Advisors Asset Management Inc. lifted its stake in shares of Melco Resorts & Entertainment by 60.6% during the fourth quarter. Advisors Asset Management Inc. now owns 5,941 shares of the company’s stock worth $105,000 after purchasing an additional 2,242 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Melco Resorts & Entertainment during the fourth quarter worth about $130,000. First Hawaiian Bank purchased a new stake in shares of Melco Resorts & Entertainment during the third quarter worth about $163,000. Finally, USA Financial Portformulas Corp bought a new stake in Melco Resorts & Entertainment in the third quarter valued at about $230,000. 36.90% of the stock is owned by hedge funds and other institutional investors.

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.

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