Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.82.

A number of research firms have recently issued reports on MLCO. Citigroup increased their target price on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a "buy" rating in a research note on Wednesday, May 1st. Morgan Stanley raised shares of Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $8.30 to $9.60 in a research report on Monday, May 6th. Bank of America lowered their price target on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a "buy" rating for the company in a report on Monday, August 12th. Susquehanna dropped their price target on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a "positive" rating on the stock in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. cut shares of Melco Resorts & Entertainment from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $10.00 to $7.00 in a research report on Thursday, July 18th.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC acquired a new position in shares of Melco Resorts & Entertainment during the 4th quarter valued at $37,000. Ridgewood Investments LLC bought a new position in Melco Resorts & Entertainment during the second quarter valued at about $42,000. Blue Trust Inc. grew its holdings in Melco Resorts & Entertainment by 243.4% during the second quarter. Blue Trust Inc. now owns 7,324 shares of the company's stock worth $53,000 after acquiring an additional 5,191 shares during the period. Russell Investments Group Ltd. bought a new stake in Melco Resorts & Entertainment in the first quarter worth about $56,000. Finally, Headlands Technologies LLC bought a new stake in Melco Resorts & Entertainment in the second quarter worth about $56,000. 39.62% of the stock is currently owned by institutional investors.

Melco Resorts & Entertainment Stock Up 2.5 %

Shares of MLCO stock traded up $0.14 during mid-day trading on Wednesday, hitting $5.64. 2,705,084 shares of the company's stock were exchanged, compared to its average volume of 3,372,510. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -13.43, a PEG ratio of 0.46 and a beta of 1.04. Melco Resorts & Entertainment has a fifty-two week low of $4.78 and a fifty-two week high of $11.43. The stock has a 50-day simple moving average of $6.49 and a two-hundred day simple moving average of $7.25.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. The business's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. As a group, analysts anticipate that Melco Resorts & Entertainment will post 0.25 earnings per share for the current fiscal year.

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.