Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Free Report) have been given an average rating of “Moderate Buy” by the five analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $14.78.
MLCO has been the topic of several research analyst reports. Morgan Stanley reiterated an “equal weight” rating and issued a $9.60 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. StockNews.com upgraded Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th.
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Hedge Funds Weigh In On Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Down 7.1 %
Shares of Melco Resorts & Entertainment stock opened at $6.40 on Thursday. Melco Resorts & Entertainment has a 52 week low of $6.30 and a 52 week high of $14.45. The stock’s 50-day simple moving average is $7.65 and its 200-day simple moving average is $8.01. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of -10.16 and a beta of 1.11.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the firm posted ($0.51) earnings per share. The firm’s revenue for the quarter was up 224.4% on a year-over-year basis. On average, equities analysts expect that Melco Resorts & Entertainment will post 0.28 earnings per share for the current year.
About Melco Resorts & Entertainment
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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