Brokerages Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Target Price at $13.82

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCOGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $13.82.

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Susquehanna decreased their target price on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a research report on Monday, April 29th. StockNews.com raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Finally, Morgan Stanley raised Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $8.30 to $9.60 in a research report on Monday, May 6th.

View Our Latest Analysis on MLCO

Melco Resorts & Entertainment Price Performance

MLCO opened at $8.58 on Monday. The stock has a 50-day moving average price of $7.18 and a 200-day moving average price of $7.78. The firm has a market cap of $3.82 billion, a PE ratio of -20.43 and a beta of 1.10. Melco Resorts & Entertainment has a 1 year low of $6.10 and a 1 year high of $13.91.

Melco Resorts & Entertainment (NASDAQ:MLCOGet Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. Melco Resorts & Entertainment’s quarterly revenue was up 55.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) EPS. As a group, sell-side analysts anticipate that Melco Resorts & Entertainment will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Large investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $37,000. Russell Investments Group Ltd. bought a new stake in shares of Melco Resorts & Entertainment during the 1st quarter valued at about $56,000. FNY Investment Advisers LLC bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $88,000. Greenleaf Trust bought a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $92,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Melco Resorts & Entertainment by 15.4% during the 4th quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock valued at $92,000 after purchasing an additional 1,386 shares during the period. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Melco Resorts & Entertainment (NASDAQ:MLCO)

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