Brokerages Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Target Price at $8.15

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have received a consensus rating of “Hold” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $8.15.

MLCO has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. Citigroup lifted their price objective on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a “buy” rating in a research report on Friday, August 1st. CLSA raised shares of Melco Resorts & Entertainment from a “hold” rating to an “outperform” rating in a research report on Wednesday, September 3rd. Susquehanna boosted their target price on shares of Melco Resorts & Entertainment from $8.00 to $10.00 and gave the company a “positive” rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised shares of Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $7.20 to $9.50 in a research report on Tuesday, July 1st.

Institutional Investors Weigh In On Melco Resorts & Entertainment

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC boosted its position in shares of Melco Resorts & Entertainment by 22.3% in the third quarter. SG Americas Securities LLC now owns 109,091 shares of the company’s stock valued at $1,000,000 after acquiring an additional 19,864 shares during the period. Park Avenue Securities LLC bought a new stake in Melco Resorts & Entertainment during the third quarter worth about $112,000. Global Retirement Partners LLC lifted its position in Melco Resorts & Entertainment by 6,805.6% during the third quarter. Global Retirement Partners LLC now owns 8,632 shares of the company’s stock worth $79,000 after purchasing an additional 8,507 shares during the period. Osaic Holdings Inc. lifted its position in Melco Resorts & Entertainment by 8.3% during the second quarter. Osaic Holdings Inc. now owns 16,990 shares of the company’s stock worth $123,000 after purchasing an additional 1,295 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its position in Melco Resorts & Entertainment by 15.5% during the second quarter. Orion Porfolio Solutions LLC now owns 13,556 shares of the company’s stock worth $98,000 after purchasing an additional 1,819 shares during the period. Institutional investors own 39.62% of the company’s stock.

Melco Resorts & Entertainment Trading Down 0.1%

Shares of MLCO opened at $8.32 on Wednesday. The company has a market cap of $3.49 billion, a price-to-earnings ratio of 64.00 and a beta of 0.71. Melco Resorts & Entertainment has a 1-year low of $4.55 and a 1-year high of $10.15. The company’s fifty day simple moving average is $9.11 and its 200 day simple moving average is $7.65.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.14. Melco Resorts & Entertainment had a net margin of 1.15% and a negative return on equity of 18.47%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts forecast that Melco Resorts & Entertainment will post 0.16 earnings per share for the current year.

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.