Melco Resorts & Entertainment Stock Price, News & Analysis (NASDAQ:MLCO)

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Melco Resorts & Entertainment in the last twelve months. There are currently 1 hold rating and 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" MLCO shares.
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3 brokerages have issued 1 year target prices for Melco Resorts & Entertainment's shares. Their MLCO share price targets range from $16.30 to $18.20. On average, they anticipate the company's stock price to reach $17.25 in the next year. This suggests a possible upside of 146.8% from the stock's current price.
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Melco Resorts & Entertainment's stock was trading at $11.50 at the beginning of the year. Since then, MLCO shares have decreased by 39.2% and is now trading at $6.99.
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Melco Resorts & Entertainment saw a decline in short interest in the month of November. As of November 15th, there was short interest totaling 6,890,000 shares, a decline of 18.4% from the October 31st total of 8,440,000 shares. Based on an average daily volume of 2,590,000 shares, the short-interest ratio is presently 2.7 days. Currently, 1.6% of the company's stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, March 6th 2024.
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Melco Resorts & Entertainment Limited (NASDAQ:MLCO) released its quarterly earnings data on Tuesday, November, 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.05. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.03 billion. The business's quarterly revenue was up 320.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.52) EPS.

ETFs with the largest weight of Melco Resorts & Entertainment (NASDAQ:MLCO) stock in their portfolio include iBET Sports Betting & Gaming ETF (IBET), Alpha Architect International Quantitative Momentum ETF (IMOM), B.A.D. Etf (BAD), VanEck Gaming ETF (BJK), Amplify International Enhanced Dividend Income ETF (IDVO) and Direxion Daily Travel & Vacation Bull 2X Shares (OOTO).Constrained Capital ESG Orphans ETF (ORFN).

Based on aggregate information from My MarketBeat watchlists, some companies that other Melco Resorts & Entertainment investors own include Las Vegas Sands (LVS), Alibaba Group (BABA), MGM Resorts International (MGM), Micron Technology (MU), Wynn Resorts (WYNN), NVIDIA (NVDA), JD.com (JD), Tesla (TSLA), Twitter (TWTR) and Intel (INTC).

Melco Resorts & Entertainment's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Hardman Johnston Global Advisors LLC (2.79%), Coronation Fund Managers Ltd. (2.63%), Morgan Stanley (0.60%), Barclays PLC (0.43%), Victory Capital Management Inc. (0.29%) and NWI Management LP (0.28%).

Shares of MLCO stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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