Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $6.69 Average PT from Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have earned a consensus recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $6.69.

A number of equities analysts have recently commented on MLCO shares. Bank of America raised their price target on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a “neutral” rating in a report on Tuesday, May 20th. Susquehanna dropped their price objective on Melco Resorts & Entertainment from $10.00 to $9.00 and set a “positive” rating for the company in a research note on Monday, February 3rd. UBS Group downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “sell” rating and set a $4.60 price objective for the company. in a report on Wednesday, April 30th. Citigroup upgraded shares of Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Thursday, April 10th. Finally, Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $7.50 to $6.70 in a research note on Monday, March 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ARGA Investment Management LP raised its holdings in shares of Melco Resorts & Entertainment by 0.4% during the first quarter. ARGA Investment Management LP now owns 29,760,953 shares of the company’s stock valued at $156,840,000 after acquiring an additional 108,529 shares in the last quarter. Eminence Capital LP raised its holdings in Melco Resorts & Entertainment by 22.1% in the 4th quarter. Eminence Capital LP now owns 7,735,919 shares of the company’s stock worth $44,791,000 after purchasing an additional 1,402,619 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Melco Resorts & Entertainment by 1.4% in the 4th quarter. Nuveen Asset Management LLC now owns 6,081,335 shares of the company’s stock worth $35,211,000 after purchasing an additional 83,268 shares in the last quarter. Nuveen LLC bought a new position in Melco Resorts & Entertainment in the first quarter worth about $31,946,000. Finally, Goldman Sachs Group Inc. raised its stake in Melco Resorts & Entertainment by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company’s stock worth $31,700,000 after buying an additional 846,504 shares in the last quarter. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Up 5.1%

Shares of NASDAQ:MLCO opened at $6.42 on Friday. The firm has a market capitalization of $2.69 billion, a PE ratio of -29.18, a P/E/G ratio of 0.63 and a beta of 0.71. Melco Resorts & Entertainment has a twelve month low of $4.55 and a twelve month high of $8.90. The company has a 50-day moving average price of $5.42 and a two-hundred day moving average price of $5.74.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.13. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.21 billion. Melco Resorts & Entertainment had a negative net margin of 2.04% and a negative return on equity of 16.35%. Melco Resorts & Entertainment’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period last year, the firm earned $0.04 EPS. Analysts anticipate that Melco Resorts & Entertainment will post 0.16 earnings per share for the current fiscal year.

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.