Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned an average rating of “Moderate Buy” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $9.82.

Several analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $7.00 in a research report on Thursday, July 18th. Bank of America lowered their target price on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating on the stock in a research report on Monday, August 12th.

Institutional Trading of Melco Resorts & Entertainment

A number of institutional investors and hedge funds have recently modified their holdings of the company. Eminence Capital LP increased its stake in Melco Resorts & Entertainment by 14.0% in the second quarter. Eminence Capital LP now owns 17,502,002 shares of the company’s stock valued at $130,565,000 after acquiring an additional 2,154,509 shares during the period. Seven Eight Capital LP bought a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at approximately $1,319,000. NWI Management LP raised its holdings in shares of Melco Resorts & Entertainment by 13.7% in the 1st quarter. NWI Management LP now owns 915,000 shares of the company’s stock worth $6,597,000 after buying an additional 110,000 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Melco Resorts & Entertainment during the 2nd quarter worth approximately $2,914,000. Finally, Capital Research Global Investors boosted its stake in Melco Resorts & Entertainment by 22.6% in the 1st quarter. Capital Research Global Investors now owns 21,460,223 shares of the company’s stock valued at $154,728,000 after buying an additional 3,958,998 shares in the last quarter. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $6.72 on Monday. Melco Resorts & Entertainment has a 1-year low of $4.78 and a 1-year high of $9.56. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of -21.00, a PEG ratio of 0.78 and a beta of 1.07. The business’s fifty day moving average price is $6.56 and its 200 day moving average price is $6.80.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.05). The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. Melco Resorts & Entertainment had a negative net margin of 3.11% and a negative return on equity of 11.59%. The firm’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) EPS. Equities analysts forecast that Melco Resorts & Entertainment will post 0.21 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.