Melco Resorts & Entertainment Limited (NASDAQ:MLCO) finished Friday with a subtraction of -$0.06 to close at $10.98, a downside of -0.54 percent. An average of 1,851,140 shares of common stock have been traded in the last five days. There was a gain of $0.39 in the past week, and it reached a new high 25 times over the past 12 months. The last 20 days have seen an average of 2,760,310 shares traded, while the 50-day average volume stands at 2,958,112.
MLCO stock has decreased by -14.55% in the last month. The company shares reached their 1-month lowest point of $10.40 on 08/18/23. 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 lost -4.52% or -$0.52 in price. In spite of this, the price is down -24.04% from the 52-week high.
Valuation Metrics
Melco Resorts & Entertainment Limited (MLCO) stock’s beta is 1.27. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.18.
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 25 August was 33.09%, suggesting the stock is Neutral, with historical volatility in this time frame at 39.12%.
As of today, MLCO’s price is $10.92 +3.68% or $0.39 from its 5-day moving average. MLCO is currently trading -18.36% lower than its 20-day SMA and -15.21% lower than its 100-day SMA. However, the stock’s current price level is -10.80% below the SMA50 and +71.83% above the SMA200.
The stochastic %K and %D were 23.52% and 21.04%, respectively, and the average true range (ATR) was 0.40. With the 14-day stochastic at 21.84% and the average true range at 0.43, the RSI (14) stands at 34.91%. The stock has reached 0.14 on the 9-day MACD Oscillator while the 14-day reading was at -0.38.
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 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 10 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 $18.00. Taking a look at these predictions, the average price target given by analysts for Melco Resorts & Entertainment Limited (MLCO) stock is $17.46.
