Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Friday.
Other equities analysts have also recently issued reports about the stock. Susquehanna began coverage on shares of Melco Resorts & Entertainment in a research note on Friday, December 15th. They set a "positive" rating and a $15.00 price target on the stock. Morgan Stanley reaffirmed an "equal weight" rating and set a $9.60 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Melco Resorts & Entertainment has an average rating of "Moderate Buy" and a consensus target price of $14.78.
View Our Latest Analysis on Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Performance
MLCO traded down $0.13 during trading on Friday, hitting $7.09. The stock had a trading volume of 2,008,840 shares, compared to its average volume of 3,051,340. The firm has a market capitalization of $3.16 billion, a P/E ratio of -11.25 and a beta of 1.11. The company's 50-day moving average price is $7.84 and its 200 day moving average price is $8.17. Melco Resorts & Entertainment has a twelve month low of $6.61 and a twelve month high of $14.45.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.10. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the firm posted ($0.51) earnings per share. The business's quarterly revenue was up 224.4% compared to the same quarter last year. As a group, equities analysts expect that Melco Resorts & Entertainment will post 0.28 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Melco Resorts & Entertainment
A number of large investors have recently added to or reduced their stakes in MLCO. GAMMA Investing LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter valued at about $37,000. Sunbelt Securities Inc. purchased a new position in Melco Resorts & Entertainment in the 1st quarter valued at about $57,000. Penserra Capital Management LLC lifted its holdings in Melco Resorts & Entertainment by 49.8% in the 4th quarter. Penserra Capital Management LLC now owns 5,754 shares of the company's stock valued at $66,000 after purchasing an additional 1,914 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Melco Resorts & Entertainment in the 3rd quarter valued at about $70,000. Finally, FNY Investment Advisers LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter valued at about $88,000. 39.62% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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