Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Consensus Recommendation of “Hold” by Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Rating) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $13.73.

Several equities research analysts have issued reports on the company. Citigroup raised their target price on Melco Resorts & Entertainment from $13.50 to $15.00 in a research note on Tuesday, January 18th. StockNews.com assumed coverage on Melco Resorts & Entertainment in a research report on Thursday, March 31st. They set a “sell” rating for the company. Finally, Zacks Investment Research lowered Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Wednesday, February 9th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MLCO. Long Pond Capital LP grew its stake in Melco Resorts & Entertainment by 88.0% during the 3rd quarter. Long Pond Capital LP now owns 9,055,522 shares of the company’s stock worth $92,729,000 after purchasing an additional 4,239,065 shares in the last quarter. Capital World Investors grew its stake in Melco Resorts & Entertainment by 17.3% during the 3rd quarter. Capital World Investors now owns 21,052,773 shares of the company’s stock worth $215,570,000 after purchasing an additional 3,112,341 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Melco Resorts & Entertainment by 24.2% during the 4th quarter. Nuveen Asset Management LLC now owns 12,196,201 shares of the company’s stock worth $124,158,000 after purchasing an additional 2,376,369 shares in the last quarter. BlackRock Inc. grew its stake in Melco Resorts & Entertainment by 17.8% during the 4th quarter. BlackRock Inc. now owns 12,820,734 shares of the company’s stock worth $130,513,000 after purchasing an additional 1,938,923 shares in the last quarter. Finally, State Street Corp grew its stake in Melco Resorts & Entertainment by 20.0% during the 4th quarter. State Street Corp now owns 6,850,443 shares of the company’s stock worth $69,738,000 after purchasing an additional 1,142,543 shares in the last quarter. Institutional investors and hedge funds own 46.30% of the company’s stock.

MLCO stock opened at $5.19 on Friday. The business has a fifty day moving average of $7.36 and a two-hundred day moving average of $9.44. The company has a quick ratio of 1.80, a current ratio of 1.83 and a debt-to-equity ratio of 8.42. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of -3.04 and a beta of 1.77. Melco Resorts & Entertainment has a 52-week low of $5.12 and a 52-week high of $18.84.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Rating) last posted its earnings results on Tuesday, March 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.08. The company had revenue of $480.60 million during the quarter, compared to analysts’ expectations of $576.80 million. Melco Resorts & Entertainment had a negative return on equity of 61.79% and a negative net margin of 40.34%. The firm’s quarterly revenue was down 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.40) earnings per share. As a group, sell-side analysts anticipate that Melco Resorts & Entertainment will post -1.07 EPS for the current year.

Melco Resorts & Entertainment Company Profile (Get Rating)

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.

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Analyst Recommendations for Melco Resorts & Entertainment (NASDAQ:MLCO)

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