Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Given Average Rating of “Hold” by Analysts

Melco Resorts & Entertainment Limited (NASDAQ:MLCO – Get Ratings) has earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued a rating on the stock in the last year is $12.25.

A number of equities analysts recently commented on MLCO shares. StockNews.com upgraded Melco Resorts & Entertainment to a “sell” rating in a report on Thursday, October 27th. Citigroup upped 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 Monday, September 26th. Finally, Credit Suisse Group lowered shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a research report on Monday, October 17th.

Institutional Investors Weigh in on Melco Hotels & Leisure

A number of hedge funds and other institutional investors have recently made changes to their positions in MLCO. Penserra Capital Management LLC acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $25,000. Ronald Blue Trust Inc. acquired a new stake in shares of Melco Resorts & Entertainment in the second quarter valued at 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 buying an additional 3,380 shares in the last quarter. Arden Trust Co acquired a new stake in shares of Melco Resorts & Entertainment in the third quarter valued at approximately $70,000. Finally, Commonwealth Equity Services LLC acquired a new position in Melco Resorts & Entertainment in the third quarter valued at approximately $70,000. 35.87% of the shares are currently owned by institutional investors and hedge funds.

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Price Performance of Melco Hotels and Leisure

Shares of NASDAQ MLCO stock 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 business 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 fifty-two week high of $11.81.

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Melco Resorts & Entertainment (NASDAQ:MLCO – Get Ratings ) last posted its quarterly 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 margin of 56.15%. The business had revenue of $241.84 million during the quarter, compared to analysts’ expectations of $305.79 million. As a group, sell-side analysts forecast that Melco Resorts & Entertainment will post -1.99 earnings per share for the current fiscal year.

Company Profile of Melco Resorts & Entertainment

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Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates casino games and casino entertainment centers in Asia. 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 theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and leisure and entertainment facilities, including health and fitness clubs, swimming pools, spas and salons, and banquet and meeting facilities.

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