Earnings from Melco Resorts & Entertainment Limited [MLCO] are scheduled on April 28, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.
MLCO Stock Earnings Outlook For The Current Quarter
The consensus estimates for the quarter suggest that the company would earn -$0.36 per share on revenue of $591.26M. Taking a look at the future, the company is projected to report revenue of $732.47M at an earnings per share of -$0.26 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 38.70% in revenue and 241.30% in earnings per share for the company.
MLCO Stock Earnings Forecast For The Current Year
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For the full financial year, Melco Resorts & Entertainment Limited [NASDAQ:MLCO] is forecasted to generate revenue of $3.79B. The figure is about $2.06 billion above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be -$0.46 in 2021, which is $2.19 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 82.60% this year, 241.30% next year, and -9.97% annually over the next five years. With regard to sales, forecasts suggest an incline of 119.10% in current fiscal year and 38.70% over following year.
MLCO Stock Price Performance
At the close of Tuesday’s session, Melco Resorts & Entertainment Limited [NASDAQ:MLCO] finished up 1.97% at $19.19. The stock’s highest single-day price was $19.43, and its lowest was $18.79. Its price rose 2.18% in the last five days. Since the beginning of the year, Melco Resorts & Entertainment Limited’s shares are up nearly 3.45%. However, the share price is -18.85% below its one year high. The top price reached by the shares of the company was $23.65 on 03/03/21, while the 52-week low came on 01/28/21, when the shares were $15.28. In the past year, shares of the company have risen 21.61%. At 50 days, the moving average achieved is $20.34 while at 200 days, the moving average is $18.24. There were 1.79 million shares traded in the last session, down from 3.38 million in the previous session.
Melco Resorts & Entertainment Limited [NASDAQ:MLCO] Stock Valuation Metrics
Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 5.38 PS value ratio is reported for the last one year of reported earnings. This is above the average return 2.70 for the industry, which means MLCO offers an unattractive investment opportunity than its competitors do.
MLCO Share Price Support And Resistance Levels
Based on the daily chart, the immediate backing lies around the 19.19 level, and the violation of this level will cause a further drop to 18.84 level. At the upper end, 20.12 remains a key resistance. As the stock increases, it may find resistance at 19.78. In the 14-day chart, the Relative Strength Index standing at 43.93 suggests a technical neutral stance while the MACD standing at -0.48 indicates price will decrease in the next trading period. Stochastic %K at 18.11% suggests buying the stock while Percent R indicator at 68.30% suggests low price movement.
How much is the short interest in Melco Resorts & Entertainment Limited?
There have been a drop in short interest in the Melco Resorts & Entertainment Limited Financial stock, with short interest up by 0.39 million shares to 2.4 million shares on Mar 14, 2021. According to data provided by Yahoo Finance, the short interest on Apr 14, 2021 stood at 2.79 million shares. This -16.25% decrease suggests some bullish sentiment was experienced by the stock.
How do analysts view Melco Resorts & Entertainment Limited?
In regard to the share price forecast for Melco Resorts & Entertainment Limited stock, the analysts, as surveyed by FactSet, forecast the price to reach $23.95 in the next twelve months, representing almost an 19.87% growth from its recent price of $19.19. Among Melco Resorts & Entertainment Limited stock projections, $30.00 is the highest analyst target for the stock, while $14.00 is the lowest. Despite this, 15 analysts who share their consensus rating for MLCO in 2021 agree that the stock is an Overweight. The latest rating change took place on 1/19/21, when Credit Suisse Ratings downgraded the stock from “Neutral” to “Underperform.”