Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target Raised to $14.00

Melco Resorts & Entertainment (NASDAQ:MLCO) had its target price lifted by Citigroup from $13.75 to $14.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently issued reports on MLCO. Susquehanna reduced their target price on 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. StockNews.com raised Melco Resorts & Entertainment from a sell rating to a hold rating in a research note on Friday, April 5th. Finally, Morgan Stanley restated an equal weight rating and set a $9.60 target price on shares of Melco Resorts & Entertainment in a report on Tuesday, January 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $13.82.

Melco Resorts & Entertainment Stock Up 1.3 %

Shares of NASDAQ MLCO opened at $7.24 on Wednesday. The firm’s fifty day moving average is $7.10 and its 200 day moving average is $7.79. Melco Resorts & Entertainment has a 52 week low of $6.10 and a 52 week high of $13.91. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -17.24 and a beta of 1.10.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 8.00%. The company’s revenue was up 55.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.14) EPS. Equities research analysts anticipate that Melco Resorts & Entertainment will post 0.29 earnings per share for the current year.

Institutional Trading of Melco Resorts & Entertainment

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC raised its holdings in Melco Resorts & Entertainment by 15.4% in the fourth quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock worth $92,000 after buying an additional 1,386 shares during the last quarter. WESPAC Advisors LLC raised its holdings in Melco Resorts & Entertainment by 7.4% in the 3rd quarter. WESPAC Advisors LLC now owns 31,994 shares of the company’s stock worth $316,000 after acquiring an additional 2,193 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Melco Resorts & Entertainment by 2.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 116,620 shares of the company’s stock valued at $1,034,000 after acquiring an additional 2,700 shares in the last quarter. Tobam boosted its stake in Melco Resorts & Entertainment by 38.5% during the 4th quarter. Tobam now owns 13,728 shares of the company’s stock valued at $122,000 after purchasing an additional 3,818 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter worth $37,000. 39.62% of the stock is owned by hedge funds and other 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.