Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Average Rating of "Hold" by Analysts

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) have been given an average recommendation of "Hold" by the six brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $6.73.

A number of brokerages have weighed in on MLCO. Morgan Stanley raised Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $7.50 to $6.70 in a research report on Monday, March 3rd. UBS Group downgraded 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 upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 target price for the company in a report on Thursday, April 10th. Bank of America increased their price target on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a "neutral" rating in a report on Tuesday, May 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Melco Resorts & Entertainment from $6.50 to $7.20 and gave the company a "neutral" rating in a research report on Monday, June 2nd.

Institutional Trading of Melco Resorts & Entertainment

Several hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd bought a new position in Melco Resorts & Entertainment in the 1st quarter worth approximately $34,000. Brown Advisory Inc. acquired a new stake in shares of Melco Resorts & Entertainment in the first quarter worth $53,000. Aigen Investment Management LP bought a new position in Melco Resorts & Entertainment during the first quarter worth $59,000. GAMMA Investing LLC raised its stake in Melco Resorts & Entertainment by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 14,171 shares of the company's stock valued at $75,000 after purchasing an additional 6,638 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in Melco Resorts & Entertainment by 294.1% in the 1st quarter. US Bancorp DE now owns 20,874 shares of the company's stock valued at $110,000 after purchasing an additional 15,578 shares during the period. Institutional investors own 39.62% of the company's stock.

Melco Resorts & Entertainment Stock Down 0.1%

MLCO stock traded down $0.01 during trading hours on Thursday, hitting $6.37. The company's stock had a trading volume of 409,819 shares, compared to its average volume of 3,679,053. The stock has a 50 day moving average price of $5.79 and a two-hundred day moving average price of $5.75. Melco Resorts & Entertainment has a 12 month low of $4.55 and a 12 month high of $8.90. The company has a market capitalization of $2.67 billion, a PE ratio of 45.46, a price-to-earnings-growth ratio of 0.65 and a beta of 0.79.

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

About Melco Resorts & Entertainment

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.