Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $7.90 Average PT from Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.90.

MLCO has been the topic of several research reports. UBS Group lowered shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective on the stock. in a research note on Wednesday, April 30th. Citigroup boosted their target price on Melco Resorts & Entertainment from $8.60 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Bank of America increased their price objective on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $7.20 to $9.50 in a research report on Tuesday, July 1st. Finally, Wall Street Zen raised Melco Resorts & Entertainment from a "hold" rating to a "buy" rating in a research report on Monday, July 7th.

Melco Resorts & Entertainment Trading Up 1.5%

Shares of NASDAQ MLCO traded up $0.13 during midday trading on Monday, hitting $8.83. 2,829,007 shares of the company's stock were exchanged, compared to its average volume of 4,128,721. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 63.07 and a beta of 0.82. The business's fifty day moving average price is $6.71 and its two-hundred day moving average price is $5.90. Melco Resorts & Entertainment has a 12-month low of $4.55 and a 12-month high of $8.91.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.01) by $0.13. Melco Resorts & Entertainment had a net margin of 1.28% and a negative return on equity of 12.58%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm earned $0.04 earnings per share. Melco Resorts & Entertainment's revenue was up 10.8% on a year-over-year basis. Equities analysts expect that Melco Resorts & Entertainment will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MLCO. Nuveen LLC purchased a new position in shares of Melco Resorts & Entertainment in the 1st quarter worth about $31,946,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $28,989,000. Brightlight Capital Management LP acquired a new position in Melco Resorts & Entertainment during the first quarter valued at $15,141,000. Eminence Capital LP grew its position in shares of Melco Resorts & Entertainment by 22.1% in the fourth quarter. Eminence Capital LP now owns 7,735,919 shares of the company's stock valued at $44,791,000 after purchasing an additional 1,402,619 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in shares of Melco Resorts & Entertainment by 206.5% in the 4th quarter. BNP Paribas Financial Markets now owns 2,009,189 shares of the company's stock valued at $11,633,000 after purchasing an additional 1,353,617 shares during the last quarter. Institutional investors and hedge funds own 39.62% of the company's stock.

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.