Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Stock Has Consensus Target Price of $6.83

Key Points

• Analyst sentiment is mixed: Nine firms give Melco Resorts & Entertainment an average “Hold” rating, with four buys, three holds, and two sells. The average 12-month price target is $6.83.
• MLCO opened at $3.94, near its 52-week low of $3.67 and below its 50-day and 200-day moving averages. The company reported quarterly EPS of $0.06, matching estimates, while revenue fell 5.7% year over year to $1.25 billion.
• Institutional investors own 39.62% of the stock, with several firms recently increasing stakes or establishing new positions.

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) have been given an average recommendation of "Hold" by the nine research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $6.83.

A number of analysts have recently issued reports on the stock. Texas Capital cut shares of Melco Resorts & Entertainment from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 16th. Capital One Financial set a $5.50 target price on shares of Melco Resorts & Entertainment in a research note on Friday, October 16th. Citigroup initiated coverage on shares of Melco Resorts & Entertainment in a report on Monday, October 12th. They issued a "buy" rating and a $9.40 target price for the company. Susquehanna set a $7.00 price target on Melco Resorts & Entertainment in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. decreased their price target on Melco Resorts & Entertainment from $6.00 to $5.70 and set a "neutral" rating on the stock in a report on Thursday, July 16th.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $3.94 on Friday. Melco Resorts & Entertainment has a fifty-two week low of $3.67 and a fifty-two week high of $9.53. The firm has a 50-day simple moving average of $4.57 and a two-hundred day simple moving average of $5.40. The firm has a market cap of $1.50 billion, a P/E ratio of 6.57, a P/E/G ratio of 3.04 and a beta of 0.49.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Melco Resorts & Entertainment had a net margin of 4.50% and a negative return on equity of 23.81%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $0.04 EPS. The business's revenue for the quarter was down 5.7% compared to the same quarter last year. On average, equities research analysts predict that Melco Resorts & Entertainment will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in Melco Resorts & Entertainment by 1,370.8% in the 1st quarter. Parallel Advisors LLC now owns 5,045 shares of the company's stock valued at $29,000 after acquiring an additional 4,702 shares during the last quarter. GAMMA Investing LLC lifted its stake in Melco Resorts & Entertainment by 71.5% in the 2nd 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. U S Global Investors Inc. bought a new position in shares of Melco Resorts & Entertainment during the 1st quarter valued at about $68,000. Leo Wealth LLC bought a new position in shares of Melco Resorts & Entertainment during the 3rd quarter valued at about $54,000. Finally, Headlands Technologies LLC bought a new position in shares of Melco Resorts & Entertainment during the 2nd quarter valued at about $73,000. 39.62% of the stock is owned by hedge funds and other institutional investors.

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.

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