Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Stock Has Average Target Price of $7.27 According to Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $7.27.

A number of equities analysts have issued reports on MLCO shares. Morgan Stanley downgraded shares of Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a report on Monday, June 22nd. Susquehanna set a $7.00 target price on shares of Melco Resorts & Entertainment in a report on Friday, August 14th. Wall Street Zen lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Sunday, June 28th. JPMorgan Chase & Co. cut their price target on shares of Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Finally, Citigroup cut their price target on shares of Melco Resorts & Entertainment from $10.50 to $9.40 and set a “buy” rating on the stock in a report on Friday, July 10th.

Melco Resorts & Entertainment Stock Up 1.4%

MLCO stock opened at $4.23 on Wednesday. Melco Resorts & Entertainment has a twelve month low of $4.06 and a twelve month high of $9.53. The stock’s 50 day moving average is $5.02 and its 200-day moving average is $5.36. The firm has a market capitalization of $1.61 billion, a PE ratio of 7.05, a P/E/G ratio of 3.21 and a beta of 0.49.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Melco Resorts & Entertainment had a negative return on equity of 23.81% and a net margin of 4.50%. Melco Resorts & Entertainment’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. On average, equities research analysts anticipate that Melco Resorts & Entertainment will post 0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its position in Melco Resorts & Entertainment by 1,370.8% in the first quarter. Parallel Advisors LLC now owns 5,045 shares of the company’s stock worth $29,000 after purchasing an additional 4,702 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Melco Resorts & Entertainment by 71.5% during the 2nd quarter. GAMMA Investing LLC now owns 7,570 shares of the company’s stock valued at $40,000 after purchasing an additional 3,155 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Melco Resorts & Entertainment during the 4th quarter valued at $63,000. U S Global Investors Inc. purchased a new stake in shares of Melco Resorts & Entertainment during the 1st quarter valued at $68,000. Finally, Headlands Technologies LLC bought a new stake in shares of Melco Resorts & Entertainment during the 2nd quarter worth $73,000. Hedge funds and other institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort properties that combine casino gaming with hotels, dining, retail, entertainment and convention facilities. The company serves leisure and business travelers through destination resorts in Asia and Europe.

In Macau, Melco operates City of Dreams, Studio City and Altira Macau, as well as the Mocha Clubs electronic gaming business. Its properties offer a range of gaming options, hotel accommodations, restaurants, shopping venues, live entertainment and other non-gaming amenities.

Melco also operates City of Dreams Mediterranean in Cyprus and related satellite casinos under the Cyprus Casinos brand.