The upcoming report from Melco Resorts (MLCO) is expected to reveal quarterly earnings of $0.06 per share, indicating a decline of 73.9% compared to the year-ago period. Analysts forecast revenues of $1.29 billion, representing a decline of 2.9% year over year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
With that in mind, let's delve into the average projections of some Melco metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts predict that the 'City of Dreams Manila - Average daily rate' will reach $145.50 . The estimate compares to the year-ago value of $164.00 .
According to the collective judgment of analysts, 'City of Dreams Manila - Revenue per available room' should come in at $135.56 . Compared to the present estimate, the company reported $156.00 in the same quarter last year.
It is projected by analysts that the 'City of Dreams Manila - Occupancy per available room' will reach 93.0%. The estimate compares to the year-ago value of 95.0%.
Analysts' assessment points toward 'Adjusted EBITDA- Mocha and Other' reaching $3.17 million. The estimate is in contrast to the year-ago figure of $5.21 million.
Analysts forecast 'Adjusted EBITDA- City of Dreams' to reach $181.05 million. The estimate compares to the year-ago value of $225.64 million.
Based on the collective assessment of analysts, 'Adjusted EBITDA- Studio City' should arrive at $99.25 million. Compared to the present estimate, the company reported $105.21 million in the same quarter last year.
The consensus among analysts is that 'Adjusted EBITDA- City of Dreams Manila' will reach $26.95 million. The estimate is in contrast to the year-ago figure of $28.42 million.
Analysts expect 'Adjusted EBITDA- City of Dreams Mediterranean and Other' to come in at $9.70 million. Compared to the current estimate, the company reported $12.42 million in the same quarter of the previous year.
View all Key Company Metrics for Melco here>>>Over the past month, Melco shares have recorded returns of +0.7% versus the Zacks S&P 500 composite's +2.5% change. Based on its Zacks Rank #4 (Sell), MLCO will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Melco Resorts & Entertainment Limited (MLCO): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).