Melco Resorts & Entertainment (NASDAQ:MLCO) released its quarterly earnings results on Thursday. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.18), Morningstar.com reports. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.34 billion. Melco Resorts & Entertainment had a net margin of 7.83% and a return on equity of 15.47%. The company’s revenue for the quarter was down 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS.
Shares of NASDAQ:MLCO traded down $0.54 during trading on Friday, hitting $15.60. The stock had a trading volume of 4,995,385 shares, compared to its average volume of 3,290,661. Melco Resorts & Entertainment has a 12 month low of $15.33 and a 12 month high of $32.95. The firm has a market capitalization of $8.98 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.53 and a beta of 1.64. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.02 and a current ratio of 1.04.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 29th. Stockholders of record on Monday, November 19th will be given a $0.1451 dividend. The ex-dividend date is Friday, November 16th. This represents a $0.58 annualized dividend and a dividend yield of 3.72%. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. Melco Resorts & Entertainment’s dividend payout ratio is currently 61.96%.
MLCO has been the subject of a number of recent analyst reports. BidaskClub raised Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Sanford C. Bernstein lowered their price target on Melco Resorts & Entertainment from $34.50 to $27.00 and set an “outperform” rating for the company in a research report on Monday, September 17th. They noted that the move was a valuation call. UBS Group lowered Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 12th. HSBC set a $33.00 price target on Melco Resorts & Entertainment and gave the company a “buy” rating in a research report on Tuesday, October 16th. Finally, Zacks Investment Research lowered Melco Resorts & Entertainment from a “hold” rating to a “strong sell” rating in a research report on Sunday, July 15th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $32.73.
ILLEGAL ACTIVITY NOTICE: This article was first published by BBNS and is the sole property of of BBNS. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://baseballnewssource.com/2018/11/10/melco-resorts-entertainment-mlco-announces-earnings-results/2972343.html.
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.
Featured Story: Index Funds
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.