Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Consensus Rating of “Moderate Buy” by Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $14.78.

MLCO has been the topic of several recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $9.60 price objective on shares of Melco Resorts & Entertainment in a research report on Tuesday, January 2nd. StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th.

Melco Resorts & Entertainment Trading Up 0.3 %

NASDAQ:MLCO opened at $6.17 on Thursday. Melco Resorts & Entertainment has a twelve month low of $6.10 and a twelve month high of $14.36. The company has a market capitalization of $2.75 billion, a P/E ratio of -9.79 and a beta of 1.11. The firm has a 50-day moving average price of $7.48 and a two-hundred day moving average price of $7.94.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period last year, the business earned ($0.51) earnings per share. The company’s revenue for the quarter was up 224.4% on a year-over-year basis. On average, equities research analysts predict that Melco Resorts & Entertainment will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Large investors have recently added to or reduced their stakes in the business. TORQ CAPITAL MANAGEMENT HK Ltd lifted its holdings in shares of Melco Resorts & Entertainment by 268.5% during the 4th quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 1,819,627 shares of the company’s stock worth $16,140,000 after acquiring an additional 1,325,878 shares during the period. Matthews International Capital Management LLC raised its stake in Melco Resorts & Entertainment by 247.0% during the third quarter. Matthews International Capital Management LLC now owns 1,194,039 shares of the company’s stock worth $11,809,000 after purchasing an additional 849,949 shares during the period. Qube Research & Technologies Ltd boosted its holdings in shares of Melco Resorts & Entertainment by 77.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 411,430 shares of the company’s stock valued at $4,069,000 after purchasing an additional 179,070 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Melco Resorts & Entertainment by 2.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company’s stock valued at $1,034,000 after buying an additional 2,700 shares during the period. Finally, Barclays PLC increased its holdings in shares of Melco Resorts & Entertainment by 107.7% during the 3rd quarter. Barclays PLC now owns 1,914,993 shares of the company’s stock worth $18,940,000 after buying an additional 992,813 shares during the last quarter. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

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.