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

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

Several equities research analysts recently weighed in on MLCO shares. UBS Group lowered Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price for the company. in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on Melco Resorts & Entertainment from $6.50 to $7.20 and gave the stock a "neutral" rating in a report on Monday, June 2nd. 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 boosted their target price on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Finally, Wall Street Zen raised Melco Resorts & Entertainment from a "hold" rating to a "buy" rating in a research report on Saturday.

Melco Resorts & Entertainment Stock Performance

Shares of Melco Resorts & Entertainment stock traded up $0.03 during trading on Thursday, hitting $6.40. 1,388,394 shares of the stock traded hands, compared to its average volume of 3,702,523. The stock has a market cap of $2.69 billion, a P/E ratio of 45.71, a PEG ratio of 0.65 and a beta of 0.79. Melco Resorts & Entertainment has a twelve month low of $4.55 and a twelve month high of $8.90. The company has a fifty day moving average price of $5.82 and a two-hundred day moving average price of $5.74.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MLCO. State of New Jersey Common Pension Fund D bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $407,000. Mcdonald Partners LLC increased its position in shares of Melco Resorts & Entertainment by 19.4% during the fourth quarter. Mcdonald Partners LLC now owns 92,360 shares of the company's stock valued at $535,000 after purchasing an additional 15,021 shares during the period. Wealthspire Advisors LLC bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $145,000. Charles Schwab Investment Management Inc. increased its position in shares of Melco Resorts & Entertainment by 47.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 353,196 shares of the company's stock valued at $2,045,000 after purchasing an additional 113,328 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $649,000. 39.62% of the stock is owned by institutional investors.

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.