Analysts Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) PT at $8.40

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $8.40.

A number of equities analysts have issued reports on MLCO shares. Wall Street Zen raised Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Wednesday, October 8th. Zacks Research cut Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. CLSA raised Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a report on Wednesday, September 3rd. Finally, Citigroup upped their price target on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the company a “buy” rating in a report on Friday, August 1st.

Institutional Trading of Melco Resorts & Entertainment

Large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its stake in shares of Melco Resorts & Entertainment by 8.3% in the second quarter. Osaic Holdings Inc. now owns 16,990 shares of the company’s stock worth $123,000 after buying an additional 1,295 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Melco Resorts & Entertainment by 1.5% in the 2nd quarter. DAVENPORT & Co LLC now owns 87,272 shares of the company’s stock worth $631,000 after acquiring an additional 1,300 shares during the period. Orion Porfolio Solutions LLC raised its holdings in Melco Resorts & Entertainment by 15.5% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company’s stock worth $98,000 after acquiring an additional 1,819 shares during the period. Ameriprise Financial Inc. lifted its position in Melco Resorts & Entertainment by 0.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 259,631 shares of the company’s stock worth $2,380,000 after acquiring an additional 2,442 shares during the last quarter. Finally, Samalin Investment Counsel LLC boosted its holdings in Melco Resorts & Entertainment by 0.9% during the second quarter. Samalin Investment Counsel LLC now owns 263,773 shares of the company’s stock valued at $1,907,000 after acquiring an additional 2,461 shares during the period. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Trading Down 0.2%

Melco Resorts & Entertainment stock opened at $9.00 on Friday. Melco Resorts & Entertainment has a 52 week low of $4.55 and a 52 week high of $10.15. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of 69.24 and a beta of 0.70. The company’s 50-day moving average price is $8.76 and its two-hundred day moving average price is $8.14.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. Melco Resorts & Entertainment had a net margin of 1.15% and a negative return on equity of 18.47%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. Research analysts expect that Melco Resorts & Entertainment will post 0.16 earnings per share for the current fiscal year.

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.