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

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Get Free Report) have received an average rating of "Moderate Buy" from the five analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $9.82.

MLCO has been the subject of several analyst reports. Bank of America dropped their price objective on shares of Melco Resorts & Entertainment from $8.50 to $7.50 and set a "buy" rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. cut Melco Resorts & Entertainment from an "overweight" rating to a "neutral" rating and cut their price target for the company from $10.00 to $7.00 in a research note on Thursday, July 18th.

Melco Resorts & Entertainment Trading Down 2.2 %

Shares of NASDAQ:MLCO traded down $0.15 during trading on Monday, reaching $6.57. 3,813,142 shares of the stock were exchanged, compared to its average volume of 3,319,642. The firm has a market cap of $2.91 billion, a PE ratio of -20.53, a PEG ratio of 0.78 and a beta of 1.07. Melco Resorts & Entertainment has a 12 month low of $4.78 and a 12 month high of $9.56. The stock has a 50-day moving average price of $6.56 and a 200-day moving average price of $6.80.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.05). Melco Resorts & Entertainment had a negative net margin of 3.11% and a negative return on equity of 11.59%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned ($0.02) earnings per share. The business's quarterly revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts expect that Melco Resorts & Entertainment will post 0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $42,000. Blue Trust Inc. raised its stake 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 in the last quarter. Russell Investments Group Ltd. acquired a new position in Melco Resorts & Entertainment during the first quarter worth about $56,000. Headlands Technologies LLC bought a new position in shares of Melco Resorts & Entertainment in the second quarter worth about $56,000. Finally, Pitcairn Co. bought a new stake in shares of Melco Resorts & Entertainment during the 1st quarter valued at approximately $80,000. 39.62% of the stock is currently owned by institutional investors and hedge funds.

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.