What is Seaport Res Ptn's Forecast for MLCO FY2027 Earnings?

Key Points

• Seaport Res Ptn has increased its FY2027 earnings per share estimate for Melco Resorts & Entertainment from $0.91 to $1.09, indicating a positive outlook for the company.
• Melco Resorts & Entertainment's latest quarterly earnings showed an EPS of $0.23, exceeding expectations of $0.09, with a revenue of $1.33 billion, reflecting a 14.5% increase year-over-year.
• The stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.15, with various analysts upgrading their ratings and price targets recently.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) - Analysts at Seaport Res Ptn lifted their FY2027 earnings per share estimates for shares of Melco Resorts & Entertainment in a research report issued on Wednesday, October 1st. Seaport Res Ptn analyst V. Umansky now anticipates that the company will post earnings per share of $1.09 for the year, up from their previous forecast of $0.91. The consensus estimate for Melco Resorts & Entertainment's current full-year earnings is $0.16 per share.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.14. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.20 billion. Melco Resorts & Entertainment had a negative return on equity of 18.47% and a net margin of 1.15%.The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS.

Other analysts also recently issued reports about the stock. Citigroup boosted their price target on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wall Street Zen cut Melco Resorts & Entertainment from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Susquehanna increased their price target on Melco Resorts & Entertainment from $8.00 to $10.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. CLSA upgraded Melco Resorts & Entertainment from a "hold" rating to an "outperform" rating in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. upgraded Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $7.20 to $9.50 in a report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $8.15.

Melco Resorts & Entertainment Stock Up 1.6%

Shares of NASDAQ MLCO opened at $9.32 on Thursday. The stock has a market cap of $3.91 billion, a P/E ratio of 71.70 and a beta of 0.71. The firm's 50-day simple moving average is $9.29 and its 200 day simple moving average is $7.32. Melco Resorts & Entertainment has a fifty-two week low of $4.55 and a fifty-two week high of $10.15.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Several hedge funds have recently bought and sold shares of the business. DAVENPORT & Co LLC boosted its position in Melco Resorts & Entertainment by 5.9% during the 1st quarter. DAVENPORT & Co LLC now owns 85,972 shares of the company's stock worth $453,000 after acquiring an additional 4,815 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Melco Resorts & Entertainment by 21.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 429,131 shares of the company's stock worth $2,262,000 after purchasing an additional 75,935 shares in the last quarter. ARGA Investment Management LP boosted its holdings in shares of Melco Resorts & Entertainment by 0.4% during the first quarter. ARGA Investment Management LP now owns 29,760,953 shares of the company's stock worth $156,840,000 after purchasing an additional 108,529 shares during the period. SG Americas Securities LLC grew its position in Melco Resorts & Entertainment by 37.1% during the first quarter. SG Americas Securities LLC now owns 208,883 shares of the company's stock valued at $1,101,000 after purchasing an additional 56,485 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its stake in Melco Resorts & Entertainment by 69.0% in the 1st quarter. Bleakley Financial Group LLC now owns 125,736 shares of the company's stock valued at $663,000 after buying an additional 51,327 shares during the period. 39.62% 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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