Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Average Rating of “Hold” by Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has earned an average recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.40.

A number of equities research analysts have recently commented on MLCO shares. CLSA raised shares of Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a research note on Wednesday, September 3rd. Zacks Research lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a report on Wednesday, October 8th. Wall Street Zen raised shares of Melco Resorts & Entertainment from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. lifted their price target on Melco Resorts & Entertainment from $10.50 to $11.00 and gave the company an “overweight” rating in a research note on Monday, November 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. grew its stake in Melco Resorts & Entertainment by 8.3% in the 2nd quarter. Osaic Holdings Inc. now owns 16,990 shares of the company’s stock valued at $123,000 after acquiring an additional 1,295 shares during the period. DAVENPORT & Co LLC lifted its holdings in Melco Resorts & Entertainment by 1.5% during the second quarter. DAVENPORT & Co LLC now owns 87,272 shares of the company’s stock valued at $631,000 after purchasing an additional 1,300 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in shares of Melco Resorts & Entertainment by 15.5% in the second quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company’s stock valued at $98,000 after purchasing an additional 1,819 shares during the period. Ameriprise Financial Inc. grew its position in shares of Melco Resorts & Entertainment by 0.9% in the third quarter. Ameriprise Financial Inc. now owns 259,631 shares of the company’s stock valued at $2,380,000 after purchasing an additional 2,442 shares during the period. Finally, Samalin Investment Counsel LLC raised its position in shares of Melco Resorts & Entertainment by 0.9% during the 2nd quarter. Samalin Investment Counsel LLC now owns 263,773 shares of the company’s stock worth $1,907,000 after purchasing an additional 2,461 shares during the last quarter. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Stock Performance

NASDAQ MLCO opened at $7.98 on Thursday. The firm has a market capitalization of $3.35 billion, a P/E ratio of 30.69 and a beta of 0.64. The stock has a 50-day simple moving average of $8.51 and a two-hundred day simple moving average of $8.49. Melco Resorts & Entertainment has a fifty-two week low of $4.55 and a fifty-two week high of $10.15.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Thursday, November 6th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.10. The firm had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.28 billion. Melco Resorts & Entertainment had a negative return on equity of 23.00% and a net margin of 2.06%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, analysts forecast that Melco Resorts & Entertainment will post 0.16 earnings per share for the current 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.