Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Free Report) – Analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for Melco Resorts & Entertainment in a report issued on Wednesday, June 26th. Seaport Res Ptn analyst V. Umansky now forecasts that the company will earn $0.35 per share for the year, up from their previous forecast of $0.28. The consensus estimate for Melco Resorts & Entertainment’s current full-year earnings is $0.28 per share. Seaport Res Ptn also issued estimates for Melco Resorts & Entertainment’s FY2025 earnings at $0.68 EPS.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last released its earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.02. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. The company’s quarterly revenue was up 55.2% on a year-over-year basis.
Get Our Latest Stock Analysis on MLCO
Melco Resorts & Entertainment Price Performance
NASDAQ:MLCO opened at $7.92 on Thursday. Melco Resorts & Entertainment has a 1-year low of $6.10 and a 1-year high of $13.91. The business’s 50-day moving average price is $7.67 and its two-hundred day moving average price is $7.89.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter worth about $1,024,000. National Bank of Canada FI grew its holdings in shares of Melco Resorts & Entertainment by 50,917.6% during the fourth quarter. National Bank of Canada FI now owns 761,693 shares of the company’s stock worth $7,030,000 after buying an additional 760,200 shares in the last quarter. TORQ CAPITAL MANAGEMENT HK Ltd grew its stake in Melco Resorts & Entertainment by 268.5% in the fourth quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 1,819,627 shares of the company’s stock valued at $16,140,000 after purchasing an additional 1,325,878 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Melco Resorts & Entertainment by 6.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,715,440 shares of the company’s stock valued at $50,696,000 after purchasing an additional 366,031 shares in the last quarter. Finally, Brigade Capital Management LP bought a new position in Melco Resorts & Entertainment in the fourth quarter valued at approximately $9,253,000. 39.62% of the stock is currently owned by institutional investors.
Melco Resorts & Entertainment Company Profile
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
- Five stocks we like better than Melco Resorts & Entertainment
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- Why Paychex Stock’s Dip is the Best Opportunity in Today’s Cycle
- Golden Cross Stocks: Pattern, Examples and Charts
- Any Pullback in Tech May Signal a Rotation into These 3 Sectors
- 3 Warren Buffett Stocks to Buy Now
- 3 Stocks to Watch: Oracle, Casey’s, FedEx Signal Big Gains
Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.