Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $8.15 Consensus Price Target from Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $8.15.

Several analysts have commented on the company. Susquehanna upped their price objective on Melco Resorts & Entertainment from $8.00 to $10.00 and gave the company a “positive” rating in a research note on Wednesday, July 30th. Wall Street Zen lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Friday. Zacks Research upgraded Melco Resorts & Entertainment from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $7.20 to $9.50 in a research report on Tuesday, July 1st. Finally, CLSA raised shares of Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a research note on Wednesday, September 3rd.

Melco Resorts & Entertainment Price Performance

MLCO stock opened at $9.84 on Friday. The company has a market cap of $4.13 billion, a price-to-earnings ratio of 75.70 and a beta of 0.77. The company has a fifty day moving average price of $9.28 and a 200 day moving average price of $7.29. Melco Resorts & Entertainment has a 12 month low of $4.55 and a 12 month high of $10.15.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.14. Melco Resorts & Entertainment had a net margin of 1.15% and a negative return on equity of 18.47%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm posted $0.05 EPS. Melco Resorts & Entertainment’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts anticipate that Melco Resorts & Entertainment will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MLCO. DAVENPORT & Co LLC lifted its position in Melco Resorts & Entertainment by 5.9% in the first quarter. DAVENPORT & Co LLC now owns 85,972 shares of the company’s stock valued at $453,000 after purchasing an additional 4,815 shares during the period. Bank of America Corp DE lifted its holdings in shares of Melco Resorts & Entertainment by 133.7% in the 4th quarter. Bank of America Corp DE now owns 642,726 shares of the company’s stock valued at $3,721,000 after buying an additional 367,652 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Melco Resorts & Entertainment by 21.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 429,131 shares of the company’s stock valued at $2,262,000 after buying an additional 75,935 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Melco Resorts & Entertainment by 1,166.0% during the fourth quarter. Ameriprise Financial Inc. now owns 147,363 shares of the company’s stock worth $853,000 after acquiring an additional 135,723 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Melco Resorts & Entertainment by 759.1% during the fourth quarter. Two Sigma Advisers LP now owns 128,000 shares of the company’s stock worth $741,000 after acquiring an additional 113,100 shares during the period. 39.62% of the stock is owned by hedge funds and other institutional investors.

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.