Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) had its price objective upped by equities researchers at Citigroup from $8.60 to $11.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's target price points to a potential upside of 25.71% from the stock's current price.
A number of other research analysts have also commented on the stock. UBS Group lowered shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective for the company. in a research report on Wednesday, April 30th. Bank of America upped their price objective on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Wall Street Zen raised shares of Melco Resorts & Entertainment from a "hold" rating to a "buy" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised shares of Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and upped their target price for the company from $7.20 to $9.50 in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $7.90.
Check Out Our Latest Research Report on Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Down 0.6%
Melco Resorts & Entertainment stock traded down $0.05 during mid-day trading on Wednesday, hitting $8.75. The company's stock had a trading volume of 2,048,542 shares, compared to its average volume of 3,865,228. The stock has a market capitalization of $3.67 billion, a P/E ratio of 62.50, a P/E/G ratio of 0.67 and a beta of 0.82. Melco Resorts & Entertainment has a twelve month low of $4.55 and a twelve month high of $8.91. The stock's fifty day moving average price is $6.49 and its two-hundred day moving average price is $5.84.
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, beating the consensus estimate of ($0.01) by $0.13. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.21 billion. Melco Resorts & Entertainment had a negative return on equity of 12.58% and a net margin of 1.28%. The business's revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.04 earnings per share. Equities analysts expect that Melco Resorts & Entertainment will post 0.16 earnings per share for the current year.
Institutional Investors Weigh In On Melco Resorts & Entertainment
Several hedge funds have recently bought and sold shares of MLCO. Caitong International Asset Management Co. Ltd bought a new stake in Melco Resorts & Entertainment in the 1st quarter valued at $34,000. Brown Advisory Inc. acquired a new position in shares of Melco Resorts & Entertainment during the 1st quarter worth about $53,000. Aigen Investment Management LP bought a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth about $59,000. GAMMA Investing LLC boosted its holdings in shares of Melco Resorts & Entertainment by 88.1% during the 1st quarter. GAMMA Investing LLC now owns 14,171 shares of the company's stock worth $75,000 after buying an additional 6,638 shares during the period. 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. 39.62% of the stock is currently 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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