Susquehanna Lowers Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target to $11.00

Melco Resorts & Entertainment (NASDAQ:MLCO) had its price objective cut by Susquehanna from $15.00 to $11.00 in a report issued on Monday, Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target would indicate a potential upside of 68.20% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley reissued an “equal weight” rating and issued a $9.60 price target on shares of Melco Resorts & Entertainment in a 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. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.78.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO opened at $6.54 on Monday. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -10.38 and a beta of 1.11. The company has a 50 day moving average price of $7.22 and a 200-day moving average price of $7.84. Melco Resorts & Entertainment has a 1-year low of $6.10 and a 1-year high of $14.00.

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

Institutional Investors Weigh In On Melco Resorts & Entertainment

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at about $37,000. FNY Investment Advisers LLC acquired a new position in Melco Resorts & Entertainment in the fourth quarter valued at about $88,000. Greenleaf Trust acquired a new position in Melco Resorts & Entertainment in the fourth quarter valued at about $92,000. Quadrant Capital Group LLC lifted its position in Melco Resorts & Entertainment by 15.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock valued at $92,000 after buying an additional 1,386 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Melco Resorts & Entertainment in the fourth quarter valued at about $111,000. Hedge funds and other institutional investors own 39.62% of the company’s stock.

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.