* Melco Resorts & Entertainment Ltd reported quarterly adjusted earnings of 8 cents per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of -4 cents. The mean expectation of six analysts for the quarter was for earnings of 7 cents per share. Wall Street expected results to range from 3 cents to 9 cents per share.
* Revenue rose 15.5% to $1.18 billion from a year ago; analysts expected $1.15 billion.
* Melco Resorts & Entertainment Ltd's reported EPS for the quarter was 6 cents.
* The company reported quarterly net income of $27.26 million.
* Melco Resorts & Entertainment Ltd shares had fallen by 13.5% this quarter and lost 24.0% so far this year.
FORECAST CHANGES
* The mean earnings estimate of analysts had fallen by about 58.3% in the last three months.
* In the last 30 days, one analyst negatively revised an earnings estimate
RECOMMENDATIONS
* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell."
* The average consensus recommendation for the casinos & gaming peer group is also "buy"
Wall Street's median 12-month price target for Melco Resorts & Entertainment Ltd is 9.20 This summary was machine generated from LSEG data November 6 at 05:08 a.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,
MISSED
Sep. 30 2024 0.07 0.08 Beat
Jun. 30 2024 0.07 0.05 Missed
Mar. 31 2024 0.03 0.04 Beat
Dec. 31 2023 0.04 -0.36 Missed
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