Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Free Report) have been given an average recommendation of “Moderate Buy” by the five brokerages that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $9.82.
Several analysts have issued reports on MLCO shares. JPMorgan Chase & Co. lowered shares of Melco Resorts & Entertainment from an “overweight” rating to a “neutral” rating and cut their price target for the company from $10.00 to $7.00 in a research report on Thursday, July 18th. Bank of America dropped their target price on Melco Resorts & Entertainment from $8.50 to $7.50 and set a “buy” rating for the company in a report on Monday, August 12th.
Check Out Our Latest Stock Analysis on MLCO
Institutional Trading of Melco Resorts & Entertainment
Melco Resorts & Entertainment Trading Up 2.1 %
Shares of Melco Resorts & Entertainment stock opened at $5.97 on Friday. The business’s 50-day moving average price is $5.58 and its 200-day moving average price is $6.78. The firm has a market capitalization of $2.66 billion, a PE ratio of -14.21, a price-to-earnings-growth ratio of 0.91 and a beta of 1.03. Melco Resorts & Entertainment has a 12 month low of $4.78 and a 12 month high of $10.10.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.05). Melco Resorts & Entertainment had a negative return on equity of 11.59% and a negative net margin of 3.11%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business posted ($0.02) earnings per share. The company’s revenue was up 22.3% compared to the same quarter last year. As a group, analysts predict that Melco Resorts & Entertainment will post 0.2 earnings per share for the current fiscal year.
Melco Resorts & Entertainment Company Profile
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.
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