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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $7.2667.

Several brokerages have recently commented on MLCO. CLSA upgraded shares of Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating and lowered their price target for the stock from $6.10 to $6.00 in a research report on Friday, July 10th. Wall Street Zen cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Sunday, June 28th. Citigroup lowered their target price on shares of Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating for the company in a report on Friday, July 10th. Susquehanna set a $7.00 target price on shares of Melco Resorts & Entertainment in a research report on Friday, August 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Tuesday, August 18th.

Melco Resorts & Entertainment Trading Down 0.5%

NASDAQ MLCO opened at $5.46 on Tuesday. The company has a 50 day moving average of $5.45 and a 200-day moving average of $5.60. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 9.10, a PEG ratio of 4.03 and a beta of 0.59. Melco Resorts & Entertainment has a 1-year low of $5.07 and a 1-year high of $10.15.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. Melco Resorts & Entertainment had a net margin of 4.50% and a negative return on equity of 23.81%. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue was down 5.7% on a year-over-year basis. On average, analysts forecast that Melco Resorts & Entertainment will post 0.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Coronation Fund Managers Ltd. increased its position in Melco Resorts & Entertainment by 35.2% during the 1st quarter. Coronation Fund Managers Ltd. now owns 11,269,346 shares of the company’s stock worth $64,010,000 after buying an additional 2,934,127 shares during the period. Capula Management Ltd acquired a new stake in Melco Resorts & Entertainment in the 1st quarter worth about $1,326,000. Renaissance Technologies LLC boosted its holdings in Melco Resorts & Entertainment by 7.9% in the 1st quarter. Renaissance Technologies LLC now owns 4,461,600 shares of the company’s stock valued at $25,342,000 after purchasing an additional 325,900 shares during the period. SG Americas Securities LLC boosted its holdings in Melco Resorts & Entertainment by 190.9% in the 1st quarter. SG Americas Securities LLC now owns 461,100 shares of the company’s stock valued at $2,619,000 after purchasing an additional 302,609 shares during the period. Finally, Clough Capital Partners L P grew its position in shares of Melco Resorts & Entertainment by 17.6% during the 4th quarter. Clough Capital Partners L P now owns 1,120,920 shares of the company’s stock worth $8,485,000 after purchasing an additional 167,890 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.