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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.82.

Several equities research analysts have issued reports on MLCO shares. Bank of America dropped their price target on 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. lowered Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $7.00 in a research note on Thursday, July 18th.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at about $42,000. Blue Trust Inc. lifted its stake in shares of Melco Resorts & Entertainment by 243.4% in the 2nd quarter. Blue Trust Inc. now owns 7,324 shares of the company’s stock valued at $53,000 after acquiring an additional 5,191 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at about $56,000. Russell Investments Group Ltd. bought a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at about $56,000. Finally, Pitcairn Co. bought a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at about $80,000. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Up 0.5 %

Melco Resorts & Entertainment stock opened at $7.89 on Thursday. Melco Resorts & Entertainment has a 52 week low of $4.78 and a 52 week high of $9.56. The business has a 50-day simple moving average of $6.09 and a 200 day simple moving average of $6.82. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -24.66, a PEG ratio of 1.31 and a beta of 1.06.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results 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 return on equity of 11.59% and a negative net margin of 3.11%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. Melco Resorts & Entertainment’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, research analysts anticipate that Melco Resorts & Entertainment will post 0.2 earnings per share for the current year.

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.