Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $8.15.
A number of research firms recently weighed in on MLCO. UBS Group downgraded Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price for the company. in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $7.20 to $9.50 in a report on Tuesday, July 1st. Citigroup upped their price objective on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the company a "buy" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Melco Resorts & Entertainment from a "hold" rating to a "buy" rating in a research report on Monday, July 7th. Finally, Susquehanna boosted their price target on shares of Melco Resorts & Entertainment from $8.00 to $10.00 and gave the stock a "positive" rating in a research note on Wednesday, July 30th.
Read Our Latest Stock Report on MLCO
Melco Resorts & Entertainment Stock Performance
Melco Resorts & Entertainment stock opened at $8.72 on Friday. Melco Resorts & Entertainment has a fifty-two week low of $4.55 and a fifty-two week high of $9.16. The stock has a market cap of $3.66 billion, a P/E ratio of 67.08 and a beta of 0.83. The firm's fifty day moving average price is $7.74 and its 200-day moving average price is $6.31.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.14. Melco Resorts & Entertainment had a negative return on equity of 18.47% and a net margin of 1.15%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $0.05 earnings per share. The company's revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts predict that Melco Resorts & Entertainment will post 0.16 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Melco Resorts & Entertainment during the 2nd quarter valued at $38,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Melco Resorts & Entertainment during the first quarter valued at about $34,000. Solstein Capital LLC raised its stake in shares of Melco Resorts & Entertainment by 74.9% during the second quarter. Solstein Capital LLC now owns 9,340 shares of the company's stock valued at $68,000 after acquiring an additional 4,000 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Melco Resorts & Entertainment during the first quarter worth about $53,000. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Melco Resorts & Entertainment in the second quarter worth about $75,000. Institutional investors own 39.62% of the company's stock.
About Melco Resorts & Entertainment
(
Get Free Report)
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.
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