Major Brokerage Firms Issue Research Notes on Melco Resorts & Entertainment Limited (MLCO)


Melco Resorts & Entertainment Limited (NASDAQ:MLCO) saw a downside of -2.60% to close Tuesday at $13.10 after subtracting -$0.35 on the day. The 5-day average trading volume is 4,055,300 shares of the company’s common stock. It has gained $13.77 in the past week and touched a new high 2 times within the past 5 days. An average of 4,519,040 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,675,080.

MLCO’s 1-month performance is 14.61% or $1.93 on its low of $11.01 reached on 12/29/22. The company’s shares have touched a 52-week low of $4.06 and high of $14.15, with the stock’s rally to the 52-week high happening on 01/12/23. YTD, MLCO has achieved 13.91% or $1.60 and has reached a new high 7 times. However, the current price is down -7.39% from the 52-week high price.

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Valuation Metrics

MLCO stock has a beta of 1.13. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.85.

Melco Resorts & Entertainment Limited’s quick ratio for the period ended September 29 was 2.30, with the current ratio over the same period at 2.30.. In terms of profitability, the gross margin trailing 12 months is 24.60%. The firm’s gross profit as reported stood at $520.58 million against revenue of $2.01 billion.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -55.65% to -$811.75 million, while revenue of $0.0 was 100.0% off the previous quarter. Analysts expected MLCO to announce -$0.56 per share in earnings in its latest quarter, but it posted -$0.18, representing a 67.90% surprise. EBITDA for the quarter stood at more than -$198.55 million. MLCO stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 8.93 billion, with total debt at $8.06 billion.

Let’s look briefly at Melco Resorts & Entertainment Limited (MLCO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 55.26% to suggest the stock is trending Neutral, with historical volatility in this time period at 36.61%.

The stock’s 5-day moving average is $13.14, reflecting a +0.15% or $0.02 change from its current price. MLCO is currently trading +14.61% above its 20-day SMA, +137.32% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +116.53% and SMA200 by+77.03%.

Stochastic %K and %D was 59.88% and 64.23% and the average true range (ATR) pointed at 0.66. The RSI (14) points at 59.75%, while the 14-day stochastic is at 40.11% with the period’s ATR at 0.68. The stock’s 9-day MACD Oscillator is pointing at -0.03 and -0.04 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Melco Resorts & Entertainment Limited (NASDAQ: MLCO), JP Morgan upgraded it to an Overweight rating. They previously had a Neutral rating on the stock. Analysts offering their rating for MLCO stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MLCO as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 7 have offered a “buy” rating.

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

Analysts have a consensus price target ranging from a low of $6.30 and a high of $19.80, with their median price target at $14.90. Looking at these predictions, the average price target given by analysts is for Melco Resorts & Entertainment Limited (MLCO) stock is $14.48.


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