Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $9.82.

A number of equities research analysts have issued reports on MLCO shares. Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $8.30 to $9.60 in a research report on Monday, May 6th. Bank of America dropped their target price on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating on the stock in a report on Monday, August 12th. Citigroup upped their price target on shares of Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Susquehanna dropped their price objective on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating on the stock in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. downgraded Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $10.00 to $7.00 in a research note on Thursday, July 18th.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO opened at $5.51 on Wednesday. The stock’s 50-day moving average is $6.35 and its two-hundred day moving average is $7.19. The stock has a market cap of $2.45 billion, a PE ratio of -13.12, a price-to-earnings-growth ratio of 0.46 and a beta of 1.04. Melco Resorts & Entertainment has a fifty-two week low of $4.78 and a fifty-two week high of $11.43.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.05). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 7.61%. The business’s revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) earnings per share. On average, equities research analysts anticipate that Melco Resorts & Entertainment will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLCO. Quadrant Capital Group LLC boosted its stake in Melco Resorts & Entertainment by 15.4% during the fourth quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock worth $92,000 after buying an additional 1,386 shares in the last quarter. Bleakley Financial Group LLC boosted its position in shares of Melco Resorts & Entertainment by 1.1% during the 1st quarter. Bleakley Financial Group LLC now owns 264,989 shares of the company’s stock valued at $1,911,000 after acquiring an additional 2,961 shares in the last quarter. GAMMA Investing LLC bought a new stake in Melco Resorts & Entertainment in the fourth quarter valued at about $37,000. Arbor Capital Management Inc. ADV raised its position in Melco Resorts & Entertainment by 4.4% in the fourth quarter. Arbor Capital Management Inc. ADV now owns 115,705 shares of the company’s stock worth $1,062,000 after purchasing an additional 4,898 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in Melco Resorts & Entertainment by 243.4% during the second quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after purchasing an additional 5,191 shares during the period. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.