Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Consensus Rating of “Moderate Buy” from Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $7.2667.

Several equities research analysts recently weighed in on MLCO shares. JPMorgan Chase & Co. cut their price objective on Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Wall Street Zen downgraded Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. Citigroup cut their price target on Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating on the stock in a research note on Friday, July 10th. Susquehanna set a $7.00 price target on Melco Resorts & Entertainment in a report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Tuesday, August 18th.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Coronation Fund Managers Ltd. boosted its position in Melco Resorts & Entertainment by 35.2% during the first quarter. Coronation Fund Managers Ltd. now owns 11,269,346 shares of the company’s stock valued at $64,010,000 after acquiring an additional 2,934,127 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Melco Resorts & Entertainment by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 4,461,600 shares of the company’s stock worth $25,342,000 after acquiring an additional 325,900 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Melco Resorts & Entertainment by 177.1% in the 4th quarter. BNP Paribas Financial Markets now owns 1,399,529 shares of the company’s stock valued at $10,594,000 after purchasing an additional 894,513 shares during the period. Clough Capital Partners L P lifted its stake in shares of Melco Resorts & Entertainment by 17.6% in the 4th quarter. Clough Capital Partners L P now owns 1,120,920 shares of the company’s stock valued at $8,485,000 after purchasing an additional 167,890 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Melco Resorts & Entertainment by 177.7% during the 1st quarter. Bank of America Corp DE now owns 890,787 shares of the company’s stock valued at $5,060,000 after purchasing an additional 570,060 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Trading Down 0.9%

MLCO stock opened at $4.64 on Friday. The stock has a market capitalization of $1.76 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 3.61 and a beta of 0.58. Melco Resorts & Entertainment has a 12 month low of $4.56 and a 12 month high of $9.90. The firm has a 50-day moving average price of $5.33 and a 200-day moving average price of $5.49.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.26 billion. Melco Resorts & Entertainment had a net margin of 4.50% and a negative return on equity of 23.81%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS. As a group, equities analysts predict that Melco Resorts & Entertainment will post 0.41 EPS for the current fiscal year.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited is a developer, owner and operator of integrated resort facilities focused on gaming, hospitality and entertainment. The company’s properties combine casino operations with hotels, restaurants, retail, convention space and leisure attractions.

Melco operates in Macau, including City of Dreams Macau, Studio City Macau and Altira Macau. Its portfolio also includes City of Dreams Manila in the Philippines and City of Dreams Mediterranean in Cyprus, along with satellite casinos in Cyprus.