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Melco Resorts and Enter (NASDAQ:MLCO) is set to give its latest quarterly earnings report on Thursday, 2024-02-29. Here's what investors need to know before the announcement.
Analysts estimate that Melco Resorts and Enter will report an earnings per share (EPS) of $0.04.
Melco Resorts and Enter bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Last quarter the company missed EPS by $0.06, which was followed by a 4.24% increase in the share price the next day.
Here's a look at Melco Resorts and Enter's past performance and the resulting price change:
| Quarter | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|
| EPS Estimate | 0.030 | -0.140 | -0.310 | -0.830 |
| EPS Actual | -0.025 | -0.018 | -0.139 | -0.513 |
| Price Change % | 4.0% | -2.0% | -1.0% | 1.0% |
Shares of Melco Resorts and Enter were trading at $8.33 as of February 27. Over the last 52-week period, shares are down 40.59%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
Posted In: MLCO
