|Bid||11.86 x 1100|
|Ask||11.87 x 1200|
|Day's range||11.52 - 11.94|
|52-week range||4.06 - 14.24|
|Beta (5Y monthly)||1.15|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||28 Feb 2020|
|1y target est||N/A|
Melco (MLCO) delivered earnings and revenue surprises of 15% and 3.86%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Shares of Melco Resorts (NASDAQ: MLCO) are 76% off their all-time high despite a massive bounce the last few weeks. Few companies have been affected by the pandemic more than Melco Resorts, which relies on the Chinese administrative region of Macao for the majority of its revenue. Restrictions in China have extended to Macao both on a policy level and from dramatically reduced travel out of China.
With its share price up 3% year to date, Melco Resorts (NASDAQ: MLCO) has dramatically outperformed the S&P 500 index, which has fallen 20% over the period. Let's explore why regulatory uncertainty in China and weak financials could cause the casino operator to underperform over the long term. What is Melco Resorts?