The stock of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) last traded at $13.06, up 1.56% from the previous session.
Data from the available sources indicates that Melco Resorts & Entertainment Limited (NASDAQ:MLCO) is covered by 13 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $19.90 and a low of $14.30, we find $17.65. Given the previous closing price of $12.86, this indicates a potential upside of 37.25 percent. MLCO stock price is now 7.27% away from the 50-day moving average and 15.85% away from the 200-day moving average. The market capitalization of the company currently stands at $5.65B.
In total, 2 analysts have assigned it a hold rating, and 11 have given it a buy rating. Brokers who have rated the stock have averaged $17.50 as their price target over the next twelve months.
With the price target of $16.30, Macquarie recently initiated with Outperform rating for Melco Resorts & Entertainment Limited (NASDAQ: MLCO).
A total of 33.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MLCO stock. A new stake in Melco Resorts & Entertainment Limited shares was purchased by QUBE RESEARCH & TECHNOLOGIES LTD during the first quarter worth $11,304,000. NISSAY ASSET MANAGEMENT CORP /JAPAN/ /ADV invested $8,984,000 in shares of MLCO during the first quarter. In the first quarter, EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in Melco Resorts & Entertainment Limited valued at approximately $5,940,000. ARROWSTREET CAPITAL, LIMITED PARTNERSHIP acquired a new stake in MLCO for approximately $5,862,000. CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. purchased a new stake in MLCO valued at around $5,473,000 in the second quarter. In total, there are 269 active investors with 43.40% ownership of the company’s stock.
With an opening price of $13.11 on Tuesday morning, Melco Resorts & Entertainment Limited (NASDAQ: MLCO) set off the trading day. During the past 12 months, Melco Resorts & Entertainment Limited has had a low of $4.72 and a high of $14.45. The fifty day moving average price for MLCO is $12.20 and a two-hundred day moving average price translates $11.30 for the stock.
The latest earnings results from Melco Resorts & Entertainment Limited (NASDAQ: MLCO) was released for Mar, 2023. According to the Resorts & Casinos Company, earnings per share came in at -$0.18, beating analysts’ expectations of -$0.31 by 0.13. This compares to -$0.47 EPS in the same period last year. The net profit margin was -52.10% and return on equity was 115.40% for MLCO. The company reported revenue of $716.48 million for the quarter, compared to $474.94 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 50.86 percent. For the current quarter, analysts expect MLCO to generate $906.25M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/12/2020. Investors who held shares on 03/02/2020 were paid a $0.16512 dividend.
Melco Resorts & Entertainment Limited(MLCO) Company Profile
Melco Resorts & Entertainment Limited develops, owns, and operates casino gaming and resort facilities in Asia and Europe. It owns and operates City of Dreams, an integrated casino resort that has gaming tables and gaming machines; suites and villas; restaurants and bars; retail outlets; a wet stage performance theater; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spas and salons and banquet and meeting facilities. The company also operates Altira Macau, a casino hotel, which has gaming tables and gaming machines; hotel rooms; dining and casual restaurants; recreation and leisure facilities; and non-gaming amenities. In addition, it operates Studio City, a cinematically themed integrated resort with gaming facilities, hotel, entertainment, retail, and food and beverage outlets in Cotai, Macau. Further, the company owns and operates seven Mocha Clubs with gaming machines, as well as Grand Dragon casino in Taipa Island, Macau. Additionally, it operates and manages City of Dreams Manila, an integrated resort in the Entertainment City complex in Manila; a casino in Limassol and satellite casinos in Nicosia, Ayia Napa, and Paphos in Cyprus; and develops and operates City of Dreams Mediterranean, an integrated casino resort in Cyprus. The company was formerly known as Melco Crown Entertainment Limited and changed its name to Melco Resorts & Entertainment Limited in April 2017. The company was incorporated in 2004 and is headquartered in Central, Hong Kong. Melco Resorts & Entertainment Limited is a subsidiary of Melco Leisure and Entertainment Group Limited.
