Melco Resorts & Entertainment Limited (NASDAQ:MLCO) finished Wednesday with an addition of $0.03 to close at $12.62, an upside of 0.24 percent. An average of 2,011,800 shares of common stock have been traded in the last five days. There was a fall of -$0.24 in the past week, and it reached a new high 30 times over the past 12 months. The last 20 days have seen an average of 3,837,085 shares traded, while the 50-day average volume stands at 3,049,964.
MLCO stock has decreased by -3.22% in the last month. The company shares reached their 1-month lowest point of $11.98 on 07/10/23. With the stock rallying to its 52-week high on 04/20/23, shares of the company touched a low of $4.72 and a high of $14.45 in 52 weeks. It has reached a new high 9 times so far this year and achieved 9.74% or $1.12 in price. In spite of this, the price is down -12.69% from the 52-week high.
Valuation Metrics
Melco Resorts & Entertainment Limited (MLCO) stock’s beta is 1.24. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.41.
Financial Health
The quick ratio of Melco Resorts & Entertainment Limited for the three months ended June 29 was 1.40, and the current ratio was 1.50, indicating that the company is able to meet its debt obligations. Melco Resorts & Entertainment Limited’s EBITDA margin for the year ending June 29 is -16.91%, while its operating margin for the same period stands at -14.90%. Its gross profit as reported stood at $286.52 million compared to revenue of $1.35 billion.
Earnings Surprise
For the three-month period that ended June 29, Melco Resorts & Entertainment Limited had $8.09 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$930.53 million in the quarter, while revenues were grew 12.76%. The analyst consensus anticipated Melco Resorts & Entertainment Limited’s latest quarter earnings to come in at -$0.06 per share, but it turned out to be -$0.05, a 16.70% surprise. For the quarter, EBITDA amounted to $64.28 million.
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 09 August was 42.10%, suggesting the stock is Neutral, with historical volatility in this time frame at 40.18%.
As of today, MLCO’s price is $12.77 -1.87% or -$0.24 from its 5-day moving average. MLCO is currently trading -6.31% lower than its 20-day SMA and +8.42% higher than its 100-day SMA. However, the stock’s current price level is +13.90% above the SMA50 and +112.82% above the SMA200.
The stochastic %K and %D were 19.24% and 22.92%, respectively, and the average true range (ATR) was 0.50. With the 14-day stochastic at 13.42% and the average true range at 0.50, the RSI (14) stands at 46.10%. The stock has reached -0.24 on the 9-day MACD Oscillator while the 14-day reading was at -0.23.
Analyst Ratings
Macquarie launched coverage on Melco Resorts & Entertainment Limited (NASDAQ: MLCO) in its analyst report released on July 18, 2023. The firm assigned the stock an Outperform rating. The consensus rating for Melco Resorts & Entertainment Limited (MLCO) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MLCO, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 11 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 $14.20 and $20.00, with a median target of $17.65. Taking a look at these predictions, the average price target given by analysts for Melco Resorts & Entertainment Limited (MLCO) stock is $17.45.
