Equities analysts forecast that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) will report $1.43 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Melco Resorts & Entertainment’s earnings, with the highest sales estimate coming in at $1.47 billion and the lowest estimate coming in at $1.39 billion. Melco Resorts & Entertainment posted sales of $1.40 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The company is scheduled to issue its next earnings results on Tuesday, February 18th.

According to Zacks, analysts expect that Melco Resorts & Entertainment will report full-year sales of $5.71 billion for the current year, with estimates ranging from $5.64 billion to $5.79 billion. For the next fiscal year, analysts anticipate that the company will report sales of $5.76 billion, with estimates ranging from $5.44 billion to $5.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Melco Resorts & Entertainment.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. Melco Resorts & Entertainment had a net margin of 7.60% and a return on equity of 17.61%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.05 earnings per share.

A number of analysts recently issued reports on the company. ValuEngine upgraded Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Monday, November 25th. CLSA set a $26.00 price target on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered their price target on Melco Resorts & Entertainment from $29.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, September 6th. Nomura restated a “buy” rating and issued a $15.00 price target on shares of Melco Resorts & Entertainment in a research report on Tuesday, August 13th. Finally, BidaskClub downgraded Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, November 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. Melco Resorts & Entertainment presently has an average rating of “Buy” and an average target price of $24.77.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its stake in Melco Resorts & Entertainment by 52.8% in the second quarter. Teacher Retirement System of Texas now owns 15,101 shares of the company’s stock worth $328,000 after purchasing an additional 5,216 shares during the period. Janus Henderson Group PLC increased its stake in Melco Resorts & Entertainment by 72.9% in the second quarter. Janus Henderson Group PLC now owns 287,194 shares of the company’s stock worth $6,238,000 after purchasing an additional 121,052 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Melco Resorts & Entertainment by 7.5% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,400 shares of the company’s stock worth $415,000 after purchasing an additional 1,500 shares during the period. Tower Research Capital LLC TRC increased its stake in Melco Resorts & Entertainment by 2,725.5% in the second quarter. Tower Research Capital LLC TRC now owns 2,882 shares of the company’s stock worth $62,000 after purchasing an additional 2,780 shares during the period. Finally, Private Trust Co. NA increased its stake in Melco Resorts & Entertainment by 11.3% in the third quarter. Private Trust Co. NA now owns 10,651 shares of the company’s stock worth $206,000 after purchasing an additional 1,081 shares during the period. Institutional investors own 35.04% of the company’s stock.

NASDAQ MLCO opened at $21.56 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 0.89. The company has a market capitalization of $10.52 billion, a P/E ratio of 24.22, a P/E/G ratio of 0.96 and a beta of 1.86. Melco Resorts & Entertainment has a one year low of $16.50 and a one year high of $26.97. The stock has a 50 day moving average price of $21.61 and a 200-day moving average price of $21.27.

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Tuesday, November 12th were given a $0.165 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.66 dividend on an annualized basis and a yield of 3.06%. Melco Resorts & Entertainment’s dividend payout ratio is presently 73.03%.

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.

Recommended Story: What is the price-to-earnings growth (PEG) ratio?

Get a free copy of the Zacks research report on Melco Resorts & Entertainment (MLCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.