Analysts Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) PT at $9.82

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $9.82.

Several equities research analysts recently weighed in on MLCO shares. Susquehanna decreased their price objective on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a report on Monday, April 29th. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $8.30 to $9.60 in a research report on Monday, May 6th. Citigroup raised their price objective on shares of Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Bank of America lowered their target price on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. lowered Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $10.00 to $7.00 in a report on Thursday, July 18th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its position in shares of Melco Resorts & Entertainment by 15.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock worth $92,000 after purchasing an additional 1,386 shares during the last quarter. Bleakley Financial Group LLC grew its stake in Melco Resorts & Entertainment by 1.1% in the 1st quarter. Bleakley Financial Group LLC now owns 264,989 shares of the company’s stock worth $1,911,000 after buying an additional 2,961 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth $37,000. Arbor Capital Management Inc. ADV raised its position in shares of Melco Resorts & Entertainment by 4.4% during the 4th quarter. Arbor Capital Management Inc. ADV now owns 115,705 shares of the company’s stock valued at $1,062,000 after buying an additional 4,898 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Melco Resorts & Entertainment by 243.4% during the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after acquiring an additional 5,191 shares during the last quarter. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Down 1.4 %

MLCO opened at $5.51 on Wednesday. Melco Resorts & Entertainment has a twelve month low of $4.78 and a twelve month high of $11.43. The company’s 50-day moving average price is $6.39 and its two-hundred day moving average price is $7.23. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of -13.02, a PEG ratio of 0.46 and a beta of 1.04.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 7.61%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted ($0.02) EPS. Melco Resorts & Entertainment’s revenue for the quarter was up 22.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Melco Resorts & Entertainment will post 0.25 earnings per share for the current year.

About Melco Resorts & Entertainment

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.