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Melco Resorts & Entertainment (MLCO): Strong Industry, Solid Earnings Estimate Revisions

Zacks

One stock that might be an intriguing choice for investors right now is Melco Resorts & Entertainment Limited MLCO. This is because this security in the Gaming space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Gaming space as it currently has a Zacks Industry Rank of 33 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Melco Crown Entertainment Limited Price and Consensus

Melco Crown Entertainment Limited Price and Consensus | Melco Crown Entertainment Limited Quote


Meanwhile, Melco Resorts & Entertainment is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

In fact, over the past month, current quarter estimates have risen from 9 cents per share to 12 cents per share, while current year estimates have risen from 51 cents per share to 69 cents per share. This has helped MLCO to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider Melco Resorts & Entertainment. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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