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

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

A number of brokerages recently weighed in on MLCO. Wall Street Zen raised shares of Melco Resorts & Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research lowered Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research note on Wednesday, October 8th. CLSA raised Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Melco Resorts & Entertainment from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 10th.

Melco Resorts & Entertainment Price Performance

Melco Resorts & Entertainment stock opened at $8.11 on Thursday. The stock’s 50 day moving average is $8.52 and its 200 day moving average is $8.47. Melco Resorts & Entertainment has a one year low of $4.55 and a one year high of $10.15. The firm has a market cap of $3.40 billion, a P/E ratio of 31.19 and a beta of 0.64.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.10. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.28 billion. Melco Resorts & Entertainment had a net margin of 2.06% and a negative return on equity of 23.00%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS. Equities analysts anticipate that Melco Resorts & Entertainment will post 0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its stake in Melco Resorts & Entertainment by 294.1% in the first quarter. US Bancorp DE now owns 20,874 shares of the company’s stock valued at $110,000 after purchasing an additional 15,578 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Melco Resorts & Entertainment by 21.5% in the 1st 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. National Bank of Canada FI raised its stake in Melco Resorts & Entertainment by 18,441,414.3% during the 1st quarter. National Bank of Canada FI now owns 1,290,906 shares of the company’s stock worth $6,803,000 after buying an additional 1,290,899 shares during the period. Entropy Technologies LP bought a new position in Melco Resorts & Entertainment in the first quarter worth approximately $113,000. Finally, Aigen Investment Management LP acquired a new stake in Melco Resorts & Entertainment in the first quarter valued at approximately $59,000. 39.62% of the stock is owned by 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.