Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Average Rating of “Buy” by Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned an average rating of “Buy” from the five research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $12.26.

Several analysts have recently commented on the stock. Bank of America raised shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and increased their price target for the company from $7.50 to $10.40 in a research note on Wednesday, May 29th. Citigroup increased their price target on shares of Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Susquehanna decreased their price target on shares of 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. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $8.30 to $9.60 in a research note on Monday, May 6th. Finally, StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th.

Melco Resorts & Entertainment Trading Down 6.7 %

Shares of Melco Resorts & Entertainment stock opened at $6.64 on Tuesday. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of -15.81, a P/E/G ratio of 0.49 and a beta of 1.04. Melco Resorts & Entertainment has a 1-year low of $6.10 and a 1-year high of $13.91. The firm’s 50-day moving average price is $7.81 and its two-hundred day moving average price is $7.81.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.02. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 7.61%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the firm earned ($0.14) earnings per share. The company’s quarterly revenue was up 55.2% compared to the same quarter last year. As a group, equities research analysts predict that Melco Resorts & Entertainment will post 0.3 EPS for the current year.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Several large investors have recently bought and sold shares of MLCO. GAMMA Investing LLC acquired a new stake in Melco Resorts & Entertainment in the fourth quarter worth $37,000. Russell Investments Group Ltd. bought a new position in shares of Melco Resorts & Entertainment during the first quarter worth $56,000. Pitcairn Co. bought a new position in shares of Melco Resorts & Entertainment during the first quarter worth $80,000. FNY Investment Advisers LLC bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter worth $88,000. Finally, Greenleaf Trust bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter worth $92,000. 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.