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

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $14.78.

A number of research analysts have commented on MLCO shares. Morgan Stanley reiterated an “equal weight” rating and set a $9.60 price target on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. StockNews.com raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th.

Melco Resorts & Entertainment Price Performance

Shares of MLCO opened at $6.40 on Thursday. Melco Resorts & Entertainment has a 1-year low of $6.30 and a 1-year high of $14.45. The company has a market capitalization of $2.85 billion, a P/E ratio of -10.16 and a beta of 1.11. The firm’s 50 day simple moving average is $7.65 and its 200 day simple moving average is $8.01.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Thursday, February 29th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.10. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter last year, the firm posted ($0.51) earnings per share. The firm’s revenue was up 224.4% on a year-over-year basis. On average, equities analysts anticipate that Melco Resorts & Entertainment will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at $37,000. Sunbelt Securities Inc. purchased a new stake in shares of Melco Resorts & Entertainment during the first quarter worth about $57,000. Penserra Capital Management LLC grew its stake in shares of Melco Resorts & Entertainment by 49.8% in the fourth quarter. Penserra Capital Management LLC now owns 5,754 shares of the company’s stock worth $66,000 after purchasing an additional 1,914 shares during the last quarter. Commonwealth Equity Services LLC purchased a new position in Melco Resorts & Entertainment during the 3rd quarter valued at about $70,000. Finally, FNY Investment Advisers LLC bought a new position in Melco Resorts & Entertainment during the 4th quarter valued at approximately $88,000. Institutional investors own 39.62% of the company’s stock.

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.