Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been given an average rating of “Moderate Buy” by the ten analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.2667.

MLCO has been the topic of several recent analyst reports. Morgan Stanley cut Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a research note on Monday, June 22nd. CLSA raised Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and reduced their price objective for the company from $6.10 to $6.00 in a report on Friday, July 10th. JPMorgan Chase & Co. reduced their target price on shares of Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Wall Street Zen cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Citigroup decreased their target price on shares of Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating on the stock in a report on Friday, July 10th.

Melco Resorts & Entertainment Price Performance

MLCO opened at $5.47 on Tuesday. Melco Resorts & Entertainment has a fifty-two week low of $5.07 and a fifty-two week high of $10.15. The firm has a market capitalization of $2.12 billion, a PE ratio of 9.12, a P/E/G ratio of 3.54 and a beta of 0.59. The company’s 50-day moving average is $5.46 and its 200 day moving average is $5.63.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. Melco Resorts & Entertainment had a negative return on equity of 26.45% and a net margin of 4.50%.The company’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 EPS. As a group, analysts expect that Melco Resorts & Entertainment will post 0.5 EPS for the current year.

Institutional Trading of Melco Resorts & Entertainment

Institutional investors and hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake in Melco Resorts & Entertainment by 1,370.8% during the first quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock worth $29,000 after purchasing an additional 4,702 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Melco Resorts & Entertainment by 71.5% in the second quarter. GAMMA Investing LLC now owns 7,570 shares of the company’s stock valued at $40,000 after acquiring an additional 3,155 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at approximately $48,000. Hilton Head Capital Partners LLC bought a new position in Melco Resorts & Entertainment in the fourth quarter worth about $63,000. Finally, U S Global Investors Inc. purchased a new position in Melco Resorts & Entertainment during the first quarter valued at $68,000. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.