Susquehanna Reaffirms "Positive" Rating for Melco Resorts & Entertainment (NASDAQ:MLCO)

Key Points

• Susquehanna raised the price target for Melco Resorts & Entertainment (NASDAQ: MLCO) from $8.00 to $10.00, indicating a potential upside of 15.34% from its previous close and maintaining a "positive" rating on the stock.
• Analyst ratings for MLCO are mixed, with UBS downgrading it to "sell" with a target of $4.60, while Citigroup raised its target to $11.00 with a "buy" rating.
• Melco reported $0.12 earnings per share for the last quarter, surpassing consensus estimates, with a total revenue of $1.23 billion, reflecting a year-over-year revenue growth of 10.8%.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report)'s stock had its "positive" rating reaffirmed by analysts at Susquehanna in a report released on Wednesday, Marketbeat reports. They currently have a $10.00 price objective on the stock, up from their previous price objective of $8.00. Susquehanna's price target would suggest a potential upside of 13.51% from the company's current price.

MLCO has been the topic of a number of other reports. Wall Street Zen upgraded shares of Melco Resorts & Entertainment from a "hold" rating to a "buy" rating in a report on Monday, July 7th. Citigroup increased their price objective on shares of Melco Resorts & Entertainment from $8.60 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. JPMorgan Chase & Co. raised shares of 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. Bank of America increased 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. Finally, UBS Group downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective on the stock. in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.15.

Melco Resorts & Entertainment Stock Up 1.8%

Melco Resorts & Entertainment stock opened at $8.81 on Wednesday. The firm has a market cap of $3.70 billion, a PE ratio of 67.77 and a beta of 0.83. Melco Resorts & Entertainment has a 52-week low of $4.55 and a 52-week high of $9.16. The company's 50 day moving average is $7.55 and its two-hundred day moving average is $6.23.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.23 earnings per share (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 analyst estimates of $1.20 billion. Melco Resorts & Entertainment had a net margin of 1.15% and a negative return on equity of 19.20%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. On average, equities research analysts anticipate that Melco Resorts & Entertainment will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Melco Resorts & Entertainment

A number of large investors have recently modified their holdings of MLCO. Caitong International Asset Management Co. Ltd purchased a new position in shares of Melco Resorts & Entertainment in the 1st quarter valued at $34,000. FNY Investment Advisers LLC purchased a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $38,000. Brown Advisory Inc. purchased a new position in shares of Melco Resorts & Entertainment in the 1st quarter valued at $53,000. Aigen Investment Management LP purchased a new position in shares of Melco Resorts & Entertainment in the 1st quarter valued at $59,000. Finally, Solstein Capital LLC grew its position in shares of Melco Resorts & Entertainment by 74.9% in the 2nd quarter. Solstein Capital LLC now owns 9,340 shares of the company's stock valued at $68,000 after buying an additional 4,000 shares during the last quarter. 39.62% of the stock is owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Company Profile

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.