Melco Resorts & Entertainment (NASDAQ:MLCO – Free Report) had its price target increased by Citigroup from $13.75 to $14.00 in a report published on Wednesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.
Several other research firms have also weighed in on MLCO. StockNews.com raised Melco Resorts & Entertainment from a sell rating to a hold rating in a research report on Friday, April 5th. Susquehanna decreased their target price on shares of Melco Resorts & Entertainment from $15.00 to $11.00 and set a positive rating for the company in a research note on Monday, April 29th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $9.60 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $13.82.
View Our Latest Analysis on Melco Resorts & Entertainment
Melco Resorts & Entertainment Trading Up 1.3 %
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Melco Resorts & Entertainment had a negative net margin of 4.34% and a negative return on equity of 8.00%. The company’s quarterly revenue was up 55.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) EPS. As a group, research analysts predict that Melco Resorts & Entertainment will post 0.29 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Melco Resorts & Entertainment
Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in Melco Resorts & Entertainment during the fourth quarter worth approximately $37,000. FNY Investment Advisers LLC acquired a new stake in Melco Resorts & Entertainment during the 4th quarter worth approximately $88,000. Greenleaf Trust bought a new stake in Melco Resorts & Entertainment in the 4th quarter valued at $92,000. Quadrant Capital Group LLC grew its holdings in Melco Resorts & Entertainment by 15.4% in the 4th quarter. Quadrant Capital Group LLC now owns 10,368 shares of the company’s stock valued at $92,000 after buying an additional 1,386 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in Melco Resorts & Entertainment during the 4th quarter worth $111,000. Institutional investors and hedge funds 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.
Featured Stories
- Five stocks we like better than Melco Resorts & Entertainment
- How Can Investors Benefit From After-Hours Trading
- MarketBeat Week in Review – 4/29 – 5/3
- Using the MarketBeat Dividend Tax Calculator
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- What is a Low P/E Ratio and What Does it Tell Investors?
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.