Melco Resorts & Entertainment Limited (MLCO) – What Are Researchers Thinking About This Stock?

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned a consensus rating of “Hold” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $6.45.

A number of research firms have issued reports on MLCO. Capital One Financial set a $5.50 target price on shares of Melco Resorts & Entertainment in a research report on Friday, October 16th. JPMorgan Chase & Co. lowered their price target on shares of Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Piper Sandler set a $5.50 price target on shares of Melco Resorts & Entertainment in a report on Friday, October 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Tuesday, August 18th. Finally, CICC Research lowered Melco Resorts & Entertainment from an “outperform” rating to a “market perform” rating in a report on Sunday, October 18th.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO opened at $4.51 on Friday. Melco Resorts & Entertainment has a fifty-two week low of $3.67 and a fifty-two week high of $9.53. The stock’s 50-day moving average is $4.47 and its two-hundred day moving average is $5.35. The stock has a market cap of $1.71 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 3.47 and a beta of 0.49.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. Melco Resorts & Entertainment had a net margin of 3.15% and a negative return on equity of 15.89%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period last year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that Melco Resorts & Entertainment will post 0.35 earnings per share for the current year.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Several institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its position in shares of Melco Resorts & Entertainment by 24.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,500 shares of the company’s stock valued at $82,000 after purchasing an additional 3,000 shares in the last quarter. GAMMA Investing LLC increased its holdings in Melco Resorts & Entertainment by 71.5% in the second quarter. GAMMA Investing LLC now owns 7,570 shares of the company’s stock worth $40,000 after purchasing an additional 3,155 shares in the last quarter. Signaturefd LLC increased its holdings in Melco Resorts & Entertainment by 30.4% in the third quarter. Signaturefd LLC now owns 15,108 shares of the company’s stock worth $68,000 after purchasing an additional 3,526 shares in the last quarter. Parallel Advisors LLC lifted its stake in Melco Resorts & Entertainment by 1,370.8% in the first quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock valued at $29,000 after buying an additional 4,702 shares during the period. Finally, Amundi lifted its stake in Melco Resorts & Entertainment by 49.3% in the first quarter. Amundi now owns 15,646 shares of the company’s stock valued at $89,000 after buying an additional 5,166 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 is a developer, owner and operator of integrated resort facilities focused on gaming, hospitality, entertainment, dining, retail and convention services. The company’s properties combine casinos with luxury hotels, restaurants, shopping areas, theaters and other leisure attractions.

Melco operates several major resorts in Macau, including City of Dreams, Altira Macau and Studio City. Its Macau operations also include the Mocha Clubs electronic gaming-machine business.