Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Free Report) have earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $7.2667.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Melco Resorts & Entertainment from $6.00 to $5.70 and set a “neutral” rating on the stock in a report on Thursday, July 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melco Resorts & Entertainment in a research report on Tuesday, August 18th. Morgan Stanley cut Melco Resorts & Entertainment from an “overweight” rating to a “negative” rating in a research note on Monday, June 22nd. Wall Street Zen downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Sunday, June 28th. Finally, Susquehanna set a $7.00 price target on shares of Melco Resorts & Entertainment in a research report on Friday, August 14th.
Read Our Latest Stock Analysis on Melco Resorts & Entertainment
Melco Resorts & Entertainment Price Performance
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The firm 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 revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 earnings per share. On average, equities research analysts forecast that Melco Resorts & Entertainment will post 0.42 earnings per share for the current fiscal year.
Institutional Trading of Melco Resorts & Entertainment
Institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its position in shares of Melco Resorts & Entertainment by 24.0% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 15,500 shares of the company’s stock valued at $82,000 after purchasing an additional 3,000 shares during the period. California State Teachers Retirement System grew its stake in shares of Melco Resorts & Entertainment by 441.4% in the 2nd quarter. California State Teachers Retirement System now owns 887,642 shares of the company’s stock worth $4,678,000 after purchasing an additional 723,690 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter worth approximately $73,000. Baron Wealth Management LLC acquired a new stake in Melco Resorts & Entertainment during the second quarter valued at approximately $95,000. Finally, GAMMA Investing LLC lifted its stake in Melco Resorts & Entertainment by 71.5% during the second 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. 39.62% of the stock is owned by institutional investors and hedge funds.
About Melco Resorts & Entertainment
Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company’s portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco’s properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers.
In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City.
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