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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been assigned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to 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.

A number of research firms recently commented on MLCO. Bank of America decreased their price objective on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. cut Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $7.00 in a research report on Thursday, July 18th.

Melco Resorts & Entertainment Stock Up 3.7 %

Shares of Melco Resorts & Entertainment stock opened at $5.85 on Friday. Melco Resorts & Entertainment has a 12-month low of $4.78 and a 12-month high of $10.27. The firm has a market capitalization of $2.60 billion, a PE ratio of -13.93, a price-to-earnings-growth ratio of 0.91 and a beta of 1.03. The stock’s fifty day moving average is $5.61 and its 200-day moving average is $6.80.

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 analysts’ consensus estimates of $0.10 by ($0.05). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Melco Resorts & Entertainment had a negative net margin of 3.11% and a negative return on equity of 11.59%. Melco Resorts & Entertainment’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) earnings per share. Analysts expect that Melco Resorts & Entertainment will post 0.2 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MLCO. Ridgewood Investments LLC acquired a new position in Melco Resorts & Entertainment in the 2nd quarter worth about $42,000. Blue Trust Inc. increased its holdings in Melco Resorts & Entertainment by 243.4% in the second quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock worth $53,000 after buying an additional 5,191 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Melco Resorts & Entertainment during the first quarter valued at approximately $56,000. Headlands Technologies LLC acquired a new stake in Melco Resorts & Entertainment in the second quarter valued at approximately $56,000. Finally, Pitcairn Co. bought a new stake in Melco Resorts & Entertainment in the first quarter worth approximately $80,000. Institutional investors and hedge funds own 39.62% of the company’s stock.

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.