Profile
Sector:
Consumer CyclicalIndustry:
Resorts & CasinosCountry:
Hong KongIPO:
19 December 2006Website:
http://www.melco-resorts.comNext earnings report:
28 February 2025Last dividends:
28 February 2020Next dividends:
N/APrice
pre-market | 24 min agoDividend
Analysts recommendations
Institutional Ownership
MLCO Latest News
Melco Resorts & Entertainment Limited (NASDAQ:MLCO ) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET Company Participants Jeanny Kim - Senior Vice President, Group Treasurer Evan Winkler - President Lawrence Ho - Chairman and CEO Geoffrey Davis - EVP and CFO Conference Call Participants George Choi - Citi John DeCree - CBRE Luis Ricardo Chinchilla - Deutsche Bank Praveen Choudhary - Morgan Stanley Simon Cheung - Goldman Sachs Operator Ladies and Gentlemen, thank you for participating in the Third Quarter 2024 Earnings Conference Call of Melco Resorts and Entertainment Limited. At this time, all participants are in a listen-only mode.
Melco Resorts (MLCO) came out with quarterly earnings of $0.08 per share, missing the Zacks Consensus Estimate of $0.09 per share. This compares to loss of $0.03 per share a year ago.
MACAU, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the third quarter of 2024.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
MACAU, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that it will release its unaudited financial results for the third quarter of 2024 on Tuesday, November 5, 2024 to be followed by a conference call on the same day at 8:30 a.m. Eastern Time (or 9:30 p.m. Singapore Time).
The average of price targets set by Wall Street analysts indicates a potential upside of 30.9% in Melco (MLCO). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Melco Resorts & Entertainment has faced significant challenges in past years from China's response to COVID, as tourism in Macau has suffered greatly. While Macau's tourism has recovered and the Chinese economy looks to gain from stimulus measures, remaining strict VIP casino guidelines continue to pressure the overall performance. Melco's relatively low margin level and high debt leverage risks to investors, and pose a major risk. Melco's real estate holdings should still provide a good safety net.
China will provide "necessary fiscal spending" to kick-start a sluggish economy. The stock market in China has struggled recently, and this news brought it back to life.
Melco's (MLCO) second-quarter 2024 results reflect improved performance in the mass market segment and non-gaming operations. Yet, high costs and expenses partially mar prospects.
- 1(current)
What type of business is Melco Resorts & Entertainment Limited?
Melco Resorts & Entertainment Ltd. is the owner of a network of integrated resorts with casinos, hotels, shopping centers, and entertainment facilities in Asia. The company was formed in 2004. The headquarters are located in Hong Kong (China). Through its subsidiaries, the company builds, owns, and operates gaming and entertainment resort complexes in Asia, including casinos. It is primarily engaged in gaming and hotel business in Asia, with its main operational and development activities carried out in more than two geographical regions, including Macau and the Philippines. The segments in which the company operates include City of Dreams, Altira Macau, Studio City, Mocha Clubs, City of Dreams Manila, as well as the Corporate and Other segment.
What sector is Melco Resorts & Entertainment Limited in?
Melco Resorts & Entertainment Limited is in the Consumer Cyclical sector
What industry is Melco Resorts & Entertainment Limited in?
Melco Resorts & Entertainment Limited is in the Resorts & Casinos industry
What country is Melco Resorts & Entertainment Limited from?
Melco Resorts & Entertainment Limited is headquartered in Hong Kong
When did Melco Resorts & Entertainment Limited go public?
Melco Resorts & Entertainment Limited initial public offering (IPO) was on 19 December 2006
What is Melco Resorts & Entertainment Limited website?
https://www.melco-resorts.com
Is Melco Resorts & Entertainment Limited in the S&P 500?
No, Melco Resorts & Entertainment Limited is not included in the S&P 500 index
Is Melco Resorts & Entertainment Limited in the NASDAQ 100?
No, Melco Resorts & Entertainment Limited is not included in the NASDAQ 100 index
Is Melco Resorts & Entertainment Limited in the Dow Jones?
No, Melco Resorts & Entertainment Limited is not included in the Dow Jones index
When was Melco Resorts & Entertainment Limited the previous earnings report?
No data
When does Melco Resorts & Entertainment Limited earnings report?
The next expected earnings date for Melco Resorts & Entertainment Limited is 28 February 2025