Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Average Rating of “Hold” from Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has received a consensus rating of “Hold” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.85.

A number of equities analysts have recently commented on MLCO shares. Zacks Research downgraded Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Wall Street Zen cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 27th. Weiss Ratings restated a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $7.70 target price (down previously from $11.00) on shares of Melco Resorts & Entertainment in a research note on Friday, January 16th. Finally, Texas Capital upgraded Melco Resorts & Entertainment to a “strong-buy” rating in a research note on Friday, January 23rd.

Institutional Trading of Melco Resorts & Entertainment

A number of large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC purchased a new position in shares of Melco Resorts & Entertainment during the second quarter worth approximately $38,000. Solstein Capital LLC increased its stake in Melco Resorts & Entertainment by 74.9% in the second quarter. Solstein Capital LLC now owns 9,340 shares of the company’s stock valued at $68,000 after purchasing an additional 4,000 shares during the period. Quarry LP purchased a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at about $68,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Melco Resorts & Entertainment during the second quarter worth about $71,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Melco Resorts & Entertainment during the second quarter worth about $75,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Melco Resorts & Entertainment Stock Down 3.7%

Melco Resorts & Entertainment stock opened at $6.05 on Friday. The company has a fifty day simple moving average of $7.66 and a 200-day simple moving average of $8.48. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 23.27 and a beta of 0.66. Melco Resorts & Entertainment has a 52-week low of $4.55 and a 52-week high of $10.15.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its 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 company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Melco Resorts & Entertainment had a negative return on equity of 23.00% and a net margin of 2.06%.The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. On average, research analysts anticipate that Melco Resorts & Entertainment will post 0.16 EPS for the current fiscal year.

About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.

In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.