Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Rating) has received a recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a buy rating, two have assigned a hold rating and two have issued a buy rating to the company. The average price range of 12 months among brokers that issued reviews on the stock in the last year was $12.25.
A number of equities analysts recently weighed in on MLCO shares. StockNews.com upgraded Melco Resorts & Entertainment to a “buy” rating in a report on Friday, October 27th. Citigroup upped their price target on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a “buy” rating in a research report on Monday, September 26th. Finally, Credit Suisse Group downgraded shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a research report on Monday, October 17th.
Investors are heavy on Melco Resorts and Entertainment
A number of hedge funds and other investors have recently made changes to their positions in MLCO. Penserra Capital Management LLC acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth approximately $25,000. Ronald Blue Trust Inc. a new stake in shares of Melco Resorts & Entertainment in the second quarter worth approximately $30,000. Quadrant Capital Group LLC lifted its position in shares of Melco Resorts & Entertainment by 103.0% in the second quarter. Quadrant Capital Group LLC now owns 6,661 shares of the company’s stock valued at $38,000 after purchasing an additional 3,380 shares during the last quarter. Arden Trust Co acquired a new stake in shares of Melco Resorts & Entertainment during the third quarter worth approximately $70,000. Finally, Commonwealth Equity Services LLC acquired a new position in Melco Resorts & Entertainment during the third quarter worth about $70,000. 35.87% of the stock is currently held by investors and hedge funds.
Melco Resorts & Entertainment Marketing
Shares of NASDAQ MLCO opened at $6.83 on Tuesday. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -3.82 and a beta of 1.14. The company has a 50-day moving average of $6.38 and a 200-day moving average of $5.76. The company has a debt-to-equity ratio of 21.09, a current ratio of 2.34 and a quick ratio of 2.31. Melco Resorts & Entertainment has a fifty-two week low of $4.06 and a 52-week high of $11.81.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.52) EPS for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.04. Melco Resorts & Entertainment had a negative return on equity of 182.94% and a negative net income of 56.15%. The company had revenue of $241.84 million for the quarter, compared to analysts’ consensus estimates of $305.79 million. As a group, analysts predict that Melco Resorts & Entertainment will post -1.99 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 casino entertainment resorts in Asia. It owns and operates City of Dreams, an integrated casino resort with 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a 2,000-seat concert hall; about 30 restaurants and bars, and 150 shops; and entertainment and recreational facilities, such as health and fitness clubs, swimming pools, spas and salons, and banquet and meeting facilities.
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