Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.
Other analysts have also issued research reports about the company. Susquehanna increased their price objective on Melco Resorts & Entertainment from $8.00 to $10.00 and gave the company a "positive" rating in a research note on Wednesday, July 30th. Citigroup raised their price target on Melco Resorts & Entertainment from $11.00 to $11.50 and gave the company a "buy" rating in a report on Friday, August 1st. Wall Street Zen downgraded Melco Resorts & Entertainment from a "buy" rating to a "hold" rating in a report on Friday, September 26th. JPMorgan Chase & Co. raised Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $7.20 to $9.50 in a research report on Tuesday, July 1st. Finally, CLSA raised Melco Resorts & Entertainment from a "hold" rating to an "outperform" rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Melco Resorts & Entertainment has a consensus rating of "Moderate Buy" and an average target price of $8.15.
View Our Latest Stock Analysis on MLCO
Melco Resorts & Entertainment Price Performance
MLCO opened at $8.38 on Wednesday. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 64.47 and a beta of 0.71. The firm's fifty day moving average price is $9.26 and its two-hundred day moving average price is $7.42. Melco Resorts & Entertainment has a 1 year low of $4.55 and a 1 year high of $10.15.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.14. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.20 billion. Melco Resorts & Entertainment had a negative return on equity of 18.47% and a net margin of 1.15%.The business's revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.05 EPS. As a group, equities analysts anticipate that Melco Resorts & Entertainment will post 0.16 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in MLCO. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Melco Resorts & Entertainment in the first quarter worth about $34,000. FNY Investment Advisers LLC acquired a new stake in Melco Resorts & Entertainment during the second quarter worth $38,000. Brown Advisory Inc. acquired a new stake in shares of Melco Resorts & Entertainment in the first quarter valued at $53,000. Aigen Investment Management LP acquired a new stake in shares of Melco Resorts & Entertainment in the first quarter valued at $59,000. Finally, Solstein Capital LLC boosted its holdings in Melco Resorts & Entertainment by 74.9% in the second quarter. Solstein Capital LLC now owns 9,340 shares of the company's stock valued at $68,000 after purchasing an additional 4,000 shares during the period. 39.62% of the stock is owned by institutional investors and hedge funds.
Melco Resorts & Entertainment Company Profile
(
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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