Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $14.78 Consensus Target Price from Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $14.78.

Several equities analysts have recently commented on MLCO shares. 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 Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th.

Institutional Investors Weigh In On Melco Resorts & Entertainment

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of Melco Resorts & Entertainment in the fourth quarter worth about $37,000. FNY Investment Advisers LLC purchased a new stake in Melco Resorts & Entertainment during the fourth quarter valued at approximately $88,000. Greenleaf Trust purchased a new stake in Melco Resorts & Entertainment during the fourth quarter valued at approximately $92,000. Quadrant Capital Group LLC raised its position in Melco Resorts & Entertainment by 15.4% during the fourth quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock valued at $92,000 after purchasing an additional 1,386 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Melco Resorts & Entertainment during the fourth quarter valued at approximately $111,000. 39.62% of the stock is currently owned by hedge funds and other institutional investors.

Melco Resorts & Entertainment Stock Performance

NASDAQ:MLCO opened at $6.27 on Thursday. The stock has a 50-day simple moving average of $7.37 and a two-hundred day simple moving average of $7.91. Melco Resorts & Entertainment has a 52-week low of $6.10 and a 52-week high of $14.00. The firm has a market capitalization of $2.79 billion, a PE ratio of -9.95 and a beta of 1.11.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, February 29th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.03 by $0.10. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm earned ($0.51) earnings per share. Melco Resorts & Entertainment’s revenue was up 224.4% on a year-over-year basis. Equities analysts forecast that Melco Resorts & Entertainment will post 0.28 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.