Buying Melco Resorts & Entertainment Limited (MLCO) Stock Is A Smart Move Today?

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Melco Resorts & Entertainment Limited (NASDAQ:MLCO) finished Thursday with a subtraction of -$0.39 to close at $5.21, a downside of -6.96 percent. An average of 4,596,020 shares of common stock have been traded in the last five days. There was a fall of -$0.62 in the past week, and it reached a new high 11 times over the past 12 months. The last 20 days have seen an average of 3,889,310 shares traded, while the 50-day average volume stands at 3,457,020.

MLCO stock has increased by 3.37% in the last month. The company shares reached their 1-month lowest point of $4.85 on 08/24/22. With the stock rallying to its 52-week high on 01/20/22, shares of the company touched a low of $4.06 and a high of $12.40 in 52 weeks. It has reached a new high 6 times so far this year and lost -48.82% or -$4.97 in price. In spite of this, the price is down -57.98% from the 52-week high.


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Valuation Metrics

Melco Resorts & Entertainment Limited (MLCO) stock’s beta is 1.44. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.47.

Financial Health

The quick ratio of Melco Resorts & Entertainment Limited for the recent quarter was 2.30, and the current ratio was 2.40, indicating that the company is able to meet its debt obligations. Its gross profit as reported stood at $520.58 million compared to revenue of $2.01 billion.

Earnings Surprise

For the recent quarter, Melco Resorts & Entertainment Limited had $6.56 billion in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$811.75 million in the quarter, while revenues were shrunk -55.65%.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Melco Resorts & Entertainment Limited (MLCO) price momentum. RSI 9-day as of the close on 22 September was 39.94%, suggesting the stock is Neutral, with historical volatility in this time frame at 70.55%.

As of today, MLCO’s price is $5.70 -10.63% or -$0.62 from its 5-day moving average. MLCO is currently trading +0.39% higher than its 20-day SMA and -8.92% lower than its 100-day SMA. However, the stock’s current price level is +4.41% above the SMA50 and -47.59% below the SMA200.

The stochastic %K and %D were 44.97% and 59.98%, respectively, and the average true range (ATR) was 0.44. With the 14-day stochastic at 17.45% and the average true range at 0.42, the RSI (14) stands at 44.14%. The stock has reached -0.05 on the 9-day MACD Oscillator while the 14-day reading was at 0.10.

Analyst Ratings

CLSA upgraded Melco Resorts & Entertainment Limited (NASDAQ: MLCO) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Melco Resorts & Entertainment Limited (MLCO) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MLCO, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 8 others rate it as a “buy”.

What is MLCO’s price target for the next 12 months?

Analysts predict a range of price targets between $5.00 and $13.30, with a median target of $7.80. Taking a look at these predictions, the average price target given by analysts for Melco Resorts & Entertainment Limited (MLCO) stock is $8.59.

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