Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $7.85 Average Price Target from Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been assigned an average rating of “Hold” from the ten brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $7.85.

Several brokerages have recently weighed in on MLCO. Texas Capital raised shares of Melco Resorts & Entertainment to a “strong-buy” rating in a report on Friday, January 23rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $7.70 price target (down previously from $11.00) on shares of Melco Resorts & Entertainment in a report on Friday, January 16th. Zacks Research downgraded Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Wall Street Zen lowered Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd.

Melco Resorts & Entertainment Stock Down 2.9%

MLCO stock opened at $6.06 on Friday. Melco Resorts & Entertainment has a fifty-two week low of $4.55 and a fifty-two week high of $10.15. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 23.31 and a beta of 0.63. The business has a 50 day moving average price of $7.49 and a 200 day moving average price of $8.41.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. Melco Resorts & Entertainment had a negative return on equity of 23.00% and a net margin of 2.06%.The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Melco Resorts & Entertainment will post 0.16 EPS for the current year.

Institutional Investors Weigh In On Melco Resorts & Entertainment

A number of hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter worth approximately $38,000. Solstein Capital LLC grew its position in shares of Melco Resorts & Entertainment by 74.9% during the 2nd quarter. Solstein Capital LLC now owns 9,340 shares of the company’s stock valued at $68,000 after buying an additional 4,000 shares during the last quarter. Quarry LP acquired a new stake in Melco Resorts & Entertainment during the third quarter worth about $68,000. Northwestern Mutual Wealth Management Co. bought a new position in Melco Resorts & Entertainment in the second quarter worth about $71,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Melco Resorts & Entertainment in the second quarter valued at approximately $75,000. Institutional investors and hedge funds 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.