FY2024 EPS Estimates for Melco Resorts & Entertainment Limited Decreased by Seaport Res Ptn (NASDAQ:MLCO)

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) – Analysts at Seaport Res Ptn decreased their FY2024 earnings estimates for shares of Melco Resorts & Entertainment in a research note issued on Wednesday, August 14th. Seaport Res Ptn analyst V. Umansky now forecasts that the company will post earnings of $0.29 per share for the year, down from their previous forecast of $0.35. The consensus estimate for Melco Resorts & Entertainment’s current full-year earnings is $0.25 per share. Seaport Res Ptn also issued estimates for Melco Resorts & Entertainment’s FY2025 earnings at $0.59 EPS.

Several other research analysts have also commented on the stock. Citigroup boosted their price objective on shares of Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. downgraded shares of Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $10.00 to $7.00 in a research report on Thursday, July 18th. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and boosted 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 research report on Monday. Finally, Susquehanna dropped their target price on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.82.

Melco Resorts & Entertainment Stock Up 3.3 %

Shares of NASDAQ MLCO traded up $0.17 during trading hours on Friday, hitting $5.35. 273,776 shares of the stock were exchanged, compared to its average volume of 3,291,295. The company has a market cap of $2.38 billion, a PE ratio of -12.33, a PEG ratio of 0.46 and a beta of 1.04. The firm has a fifty day moving average price of $6.64 and a 200-day moving average price of $7.32. Melco Resorts & Entertainment has a 12 month low of $4.78 and a 12 month high of $11.43.

Institutional Trading of Melco Resorts & Entertainment

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at $37,000. Ridgewood Investments LLC purchased a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $42,000. Blue Trust Inc. boosted its holdings in shares of Melco Resorts & Entertainment by 243.4% in the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock valued at $53,000 after acquiring an additional 5,191 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $56,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at $56,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

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.