Brokerages Set Melco Resorts & Entertainment Limited (NASDAQ:MLCO) PT at $13.82

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $13.82.

MLCO has been the subject of a number of recent research reports. Susquehanna dropped their price objective on Melco Resorts & Entertainment from $15.00 to $11.00 and set a “positive” rating for the company in a research report on Monday, April 29th. Morgan Stanley raised shares of Melco Resorts & Entertainment from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $8.30 to $9.60 in a research report on Monday, May 6th. StockNews.com upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Finally, Citigroup boosted their price target on Melco Resorts & Entertainment from $13.75 to $14.00 and gave the company a “buy” rating in a report on Wednesday, May 1st.

Melco Resorts & Entertainment Trading Up 0.2 %

Shares of MLCO opened at $8.58 on Monday. Melco Resorts & Entertainment has a 12-month low of $6.10 and a 12-month high of $13.91. The stock has a market cap of $3.82 billion, a P/E ratio of -20.43 and a beta of 1.10. The company has a 50-day moving average of $7.18 and a two-hundred day moving average of $7.79.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Tuesday, April 30th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.11 billion. Melco Resorts & Entertainment had a negative return on equity of 7.61% and a negative net margin of 4.34%. Melco Resorts & Entertainment’s revenue was up 55.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) EPS. As a group, analysts forecast that Melco Resorts & Entertainment will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Melco Resorts & Entertainment

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC purchased a new position in shares of Melco Resorts & Entertainment in the 4th quarter worth $37,000. Russell Investments Group Ltd. purchased a new position in shares of Melco Resorts & Entertainment in the 1st quarter worth about $56,000. Pitcairn Co. purchased a new position in shares of Melco Resorts & Entertainment in the 1st quarter worth about $80,000. FNY Investment Advisers LLC acquired a new position in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $88,000. Finally, Greenleaf Trust purchased a new stake in shares of Melco Resorts & Entertainment during the 4th quarter worth about $92,000. Hedge funds and other institutional investors own 39.62% of the company’s stock.

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.