Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) shares traded 4.24% higher at $7.86 on Wall Street last session.
In accordance with the data, 9 analysts cover Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $19.70 and a low of $11.00, we find $14.50. Given the previous closing price of $7.54, this indicates a potential upside of 92.31 percent. MLCO stock price is now -15.87% away from the 50-day moving average and -32.88% away from the 200-day moving average. The market capitalization of the company currently stands at $3.44B.
It has been rated a hold by 0 analysts and a buy by 9. Brokers who have rated the stock have averaged $14.83 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 Ltd ADR (NASDAQ: MLCO).
A total of 0.06% of the company’s stock is owned by insiders.
Melco Resorts & Entertainment Ltd ADR (NASDAQ: MLCO) opened at $7.75 on Wednesday. During the past 12 months, Melco Resorts & Entertainment Ltd ADR has had a low of $5.97 and a high of $14.45. The fifty day moving average price for MLCO is $9.34 and a two-hundred day moving average price translates $11.71 for the stock.
The latest earnings results from Melco Resorts & Entertainment Ltd ADR (NASDAQ: MLCO) was released for Jun, 2023. According to the Resorts & Casinos Company, earnings per share came in at -$0.05, beating analysts’ expectations of -$0.06 by 0.01. This compares to -$0.62 EPS in the same period last year. The company reported revenue of $947.94 million for the quarter, compared to $296.11 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 220.13 percent. For the current quarter, analysts expect MLCO to generate $1.03B in revenue.
Melco Resorts & Entertainment Ltd ADR(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.
