Melco Resorts & Entertainment Ltd (MLCO) Receives $19.65 Consensus PT from Analysts

Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) has been given an average recommendation of “Hold” by the twenty-one research firms that are currently covering the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $19.65.

A number of brokerages recently issued reports on MLCO. Wells Fargo & Co reissued a “market perform” rating on shares of Melco Resorts & Entertainment in a report on Thursday, January 5th. Vetr raised shares of Melco Resorts & Entertainment from a “buy” rating to a “strong-buy” rating and set a $19.43 price objective for the company in a report on Monday, February 20th. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 5th. Aegis began coverage on shares of Melco Resorts & Entertainment in a report on Thursday, December 22nd. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Deutsche Bank AG set a $23.00 price objective on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a report on Thursday, February 16th.

Melco Resorts & Entertainment (NASDAQ:MLCO) traded down 0.55% during midday trading on Monday, hitting $19.90. 1,680,478 shares of the stock traded hands. The company’s 50-day moving average is $17.90 and its 200 day moving average is $17.24. The firm has a market cap of $9.71 billion and a P/E ratio of 57.68. Melco Resorts & Entertainment has a 12-month low of $11.91 and a 12-month high of $20.34.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, February 16th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.00. The company had revenue of $1.19 billion for the quarter. During the same period last year, the company earned ($0.02) earnings per share. Melco Resorts & Entertainment’s revenue was up 12.7% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Monday, February 27th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Thursday, February 23rd. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.01.

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About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

5 Day Chart for NASDAQ:MLCO

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