Melco Resorts & Entertainment Limited (NASDAQ:MLCO) currently has a daily average trading volume of 3.16M but it saw 3051231 shares traded on Thursday. With a market cap of 4.79B USD, stock’s current market price of $11.09 came falling about -1.42 while comparing to the previous closing price of $11.25. In past 52 weeks, the stock remained buoying in the range of price level as high as $14.45 and as low as $4.65. In the recent trading on the day, stock has struck highest price mark of $11.41 while lowest mark touched by it was $11.035.
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Taking a look at 20-day trading activity of Melco Resorts & Entertainment Limited (MLCO) gives us an average price of $12.04, while its current price level is -23.28% below from 52-week high level whereas it is 138.49% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $12.42 while that of 200 days or SMA-200 reads an average of $9.97. A closer look into the stock’s movement over the week reveals that its volatility is standing at 5.75% during that period while stretching the period over a month that decreases to 4.72%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 38.04 which implies that the stock is in neutral territory.
Melco Resorts & Entertainment Limited (MLCO)’s stock is currently under the radar of 13 analysts who are in consensus at a 12-month price target range of between $13.50 and $19.80 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $13.50 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $19.80. Average price target assigned by them is $16.90 which highlights an upside potential of 34.38% for the stock over that period. And to attain the median price target of $16.80 assigned by those analysts, stock has to add about 33.99% of value to its current levels.
Data by FactSet Research shows that 13 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 9 analysts suggested the investors to Buy the stock while 4 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Strong Buy.
Over the week, MLCO’s stock price is moving -3.06% down while it is -14.16% when we observe its performance for the past one month. Year-to-date it is -3.57% down and over the past year, the stock is showing an upside performance of 132.01%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.18 beat the consensus estimate of -$0.31 for the same. The company is expected to be releasing its next quarterly report in 07/25/2023, for which analysts forecasted an EPS of -$0.05 while estimate for next year EPS is $0.01. For MLCO, analysts are forecasting an EPS-growth rate of 100.50% for current year and estimate for EPS growth in next year is 6,300.00%. In next quarter, company is expected to be making quarterly sales of $950.09 million as analysts are expecting the sales for current fiscal year at $3.74 billion and seeing the company making $4.76 billion in sales next year. Moreover, analysts are in estimates of $876.13 million for current-quarter revenue.
Currently, Melco Resorts & Entertainment Limited’s total number of outstanding shares is 441.90M with 0.00% of that held by the insiders while 45.26% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -9.60% and return on equity (ROE) at 115.40%. It has a 17.89 of forward P/E ratio. Stock’s beta reads 1.19. Stock has a price to sale or P/S ratio amounts to 3.01. Its return on asset (ROA) is -9.20% on average.
A filing at the U.S. Securities and Exchange Commission revealed that American Funds Small Cap World Fu came shrinking its share ownership by 7.22% in the Melco Resorts & Entertainment Limited (MLCO) increasing its stake to 4.02% with control over 1.2 million shares in the company. As per SEC documents, American Funds Small Cap World Fu shunned 17,830,841 of company’s common stock of worth $243.21 million as per recent closing price of the stock. American Funds Small Cap World Fu is not the only institutional holder which restructured its stake in Melco Resorts & Entertainment Limited, as Vanguard International Value Fund dumped 9,936,595 shares of worth $135.54 million to bring its holdings to a total of -0.63 million shares.
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