Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) had its target price reduced by Susquehanna from $15.00 to $11.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price target suggests a potential upside of 66.92% from the stock’s previous close.
A number of other research firms have also weighed in on MLCO. Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.60 price objective on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.78.
Check Out Our Latest Analysis on Melco Resorts & Entertainment
Melco Resorts & Entertainment Stock Up 3.9 %
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last issued its earnings results on Thursday, February 29th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.14 billion. The firm’s revenue for the quarter was up 224.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.51) earnings per share. As a group, research analysts anticipate that Melco Resorts & Entertainment will post 0.28 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Melco Resorts & Entertainment
Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $37,000. FNY Investment Advisers LLC acquired a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $88,000. Greenleaf Trust acquired a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $92,000. Quadrant Capital Group LLC increased its holdings in shares of 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 acquiring an additional 1,386 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $111,000. 39.62% of the stock is currently owned by institutional investors.
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.
See Also
- Five stocks we like better than Melco Resorts & Entertainment
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- The Meteoric Rise of Chipotle Mexican Grill Stock is Not Over
- Insider Trades May Not Tell You What You Think
- Stagflation Is Real, Mastercard Stock Now a Sudden Must Have
- Health Care Stocks Explained: Why You Might Want to Invest
- Here’s Why Institutions Had Been Buying Martin Marietta Stock
Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.