Melco Resorts & Entertainment (NASDAQ:MLCO) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Melco Resorts & Entertainment (NASDAQ:MLCO) announced its quarterly earnings data on Tuesday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02, Briefing.com reports. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 8.00%. The company’s revenue was up 55.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) earnings per share.

Melco Resorts & Entertainment Price Performance

Shares of MLCO stock opened at $6.59 on Thursday. The business’s 50-day moving average price is $7.18 and its 200-day moving average price is $7.82. Melco Resorts & Entertainment has a 12 month low of $6.10 and a 12 month high of $13.91.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MLCO. Citigroup boosted their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna lowered their target price on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a research note on Monday. Finally, StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Melco Resorts & Entertainment currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.82.

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.