Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives $24.49 Consensus Price Target from Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been given an average recommendation of “Buy” by the fourteen analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $24.13.

Several analysts recently issued reports on MLCO shares. ValuEngine raised shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research note on Friday, December 20th. BidaskClub raised shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research note on Friday, December 13th. Finally, Zacks Investment Research cut shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 9th.

NASDAQ MLCO traded down $0.04 during trading hours on Tuesday, hitting $23.80. 1,949,029 shares of the company’s stock traded hands, compared to its average volume of 1,647,195. Melco Resorts & Entertainment has a 52-week low of $18.68 and a 52-week high of $26.97. The company has a market capitalization of $11.78 billion, a PE ratio of 26.74, a PEG ratio of 0.91 and a beta of 1.88. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.89 and a quick ratio of 0.88. The firm’s 50-day moving average is $23.10 and its 200-day moving average is $21.90.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). Melco Resorts & Entertainment had a net margin of 7.60% and a return on equity of 17.61%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted $0.05 EPS. The firm’s revenue was up 16.4% on a year-over-year basis. Equities research analysts predict that Melco Resorts & Entertainment will post 1.15 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Carroll Financial Associates Inc. acquired a new position in Melco Resorts & Entertainment in the 4th quarter valued at about $36,000. Usca Ria LLC acquired a new position in Melco Resorts & Entertainment in the 3rd quarter valued at about $39,000. Tower Research Capital LLC TRC boosted its holdings in Melco Resorts & Entertainment by 2,725.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,882 shares of the company’s stock valued at $62,000 after purchasing an additional 2,780 shares during the last quarter. Westwood Holdings Group Inc. acquired a new position in Melco Resorts & Entertainment in the 2nd quarter valued at about $165,000. Finally, Private Trust Co. NA boosted its holdings in Melco Resorts & Entertainment by 11.3% in the 3rd quarter. Private Trust Co. NA now owns 10,651 shares of the company’s stock valued at $206,000 after purchasing an additional 1,081 shares during the last quarter. Institutional investors own 35.24% of the company’s stock.

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.

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Analyst Recommendations for Melco Resorts & Entertainment (NASDAQ:MLCO)

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