Melco Resorts & Entertainment Limited (MLCO - Free Report) operates casino gaming and entertainment resort facilities primarily in Asia.
Per the Macau Gaming Inspection and Coordination Bureau, gross gaming revenues (GGR) rose in all the three months of the quarter, indicating that the Macau market might be on the recovery path. The company’s performance in the region is thus poised to get a boost aided by the improved operating environment therein.
Moreover, comparatively better performance at the non-gaming segments like rooms and food and beverages, are driving revenues. Also, the company’s cost-control efforts including effective management of marketing expenses are boosting profits and margins.
Investors should note that the consensus estimate for MLCO has hardly witnessed any significant movement over the last 60 days. Meanwhile, MLCO’s earnings have been strong over the past few quarters. In fact, the company posted positive earnings surprises in three of the last four quarters, with an average beat of 108.75%. Revenues outpaced the Zacks Consensus Estimate in each of the trailing four quarters.
MLCO currently has a Zacks Rank #3 (Hold) but that could change following Melco Resorts’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MLCO beats on earnings. Our consensus earnings estimate called for earnings per share of 19 cents, and the company reported earnings of 31 cents per share.
Revenues: MLCO reported revenues of $1.38 billion. This surpassed our consensus estimate of $1.29 billion.
Key Stats to Note: Adjusted Property EBITDA was $400.2 million in the third quarter of 2017, up 38.4% year over year. The upside came mainly on the back of better performance in group-wide rolling chip segment.
Stock Price Impact: At the time of writing, the stock price of Melco Resorts was up over 3% during pre-market trading hours following the earnings release.
Check back for our full write up on this MLCO earnings report later!
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Melco Resorts & Entertainment Limited (MLCO - Free Report) operates casino gaming and entertainment resort facilities primarily in Asia.
Per the Macau Gaming Inspection and Coordination Bureau, gross gaming revenues (GGR) rose in all the three months of the quarter, indicating that the Macau market might be on the recovery path. The company’s performance in the region is thus poised to get a boost aided by the improved operating environment therein.
Moreover, comparatively better performance at the non-gaming segments like rooms and food and beverages, are driving revenues. Also, the company’s cost-control efforts including effective management of marketing expenses are boosting profits and margins.
Investors should note that the consensus estimate for MLCO has hardly witnessed any significant movement over the last 60 days. Meanwhile, MLCO’s earnings have been strong over the past few quarters. In fact, the company posted positive earnings surprises in three of the last four quarters, with an average beat of 108.75%. Revenues outpaced the Zacks Consensus Estimate in each of the trailing four quarters.
MLCO currently has a Zacks Rank #3 (Hold) but that could change following Melco Resorts’ earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MLCO beats on earnings. Our consensus earnings estimate called for earnings per share of 19 cents, and the company reported earnings of 31 cents per share.
Revenues: MLCO reported revenues of $1.38 billion. This surpassed our consensus estimate of $1.29 billion.
Key Stats to Note: Adjusted Property EBITDA was $400.2 million in the third quarter of 2017, up 38.4% year over year. The upside came mainly on the back of better performance in group-wide rolling chip segment.
Stock Price Impact: At the time of writing, the stock price of Melco Resorts was up over 3% during pre-market trading hours following the earnings release.
Check back for our full write up on this MLCO earnings report later!
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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