The stock of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) decreased by -$0.08 on Wednesday to $11.08, down -0.72 percent. The last five days have seen an average of 1,712,012 shares of common stock traded. 9 times new highs were reached in the current year, with a fall of -$0.41. The average number of shares traded over the last 20 days was 2,119,933, while the average volume over the last 50 days totaled 2,917,095.
MLCO stock dropped -15.87% since last month. On 08/18/23, the company’s shares reached a one-month low of $10.40. The stock touched a high of $14.45 on 04/20/23, after rallying from a low of $4.72 in 52 weeks. The price of MLCO stock has declined by -3.65% or -$0.41 this year, reaching a new high 9 times. Still, the stock price is down -23.35% from the 52-week high.
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Valuation Metrics
Company paid $0.1651 per share in dividends, an increase of 0.06% from $0.1650 last year.
Financial Health
For the three months ended June 29, Melco Resorts & Entertainment Limited’s quick ratio was 1.40, while its current ratio was 1.50, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 32.40% percent. Melco Resorts & Entertainment Limited’s EBITDA margin for the year ended June 29 was -16.91%, whereas its operating margin stood at -14.90% for the same period. Based on annual data, it had gross profit of $286.52 million and revenue of $1.35 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MLCO’s return on assets (ROA) during the last 12 months has been -6.70%. There was a -9.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 64.40%.
Earnings Surprise
According to Melco Resorts & Entertainment Limited’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.35 billion, while revenues fell by -49.07% to $0.0. It was predicted that Melco Resorts & Entertainment Limited’s quarterly earnings would be -$0.05, but it ended up being -$0.06, beating the consensus by 16.70%. EBITDA was $64.28 million for the quarter. At the end of Melco Resorts & Entertainment Limited’s most recent quarter ended June 29, its liabilities totaled 9.5 billion, while its total debt was $8.18 billion.
Technical Picture
Here’s a quick look at Melco Resorts & Entertainment Limited’s (MLCO) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 38.87%, suggesting the stock is Neutral, with a 27.36% historical volatility rate.
The stochastic %K and %D were 31.84% and 28.47% respectively, while the average true range (ATR) was 0.37. Based on the 14-day stochastic reading of 34.52%, the RSI (14) reading is 38.43%. On the 9-day MACD Oscillator, the stock is at 0.20, and the 14-day reading is at 0.06.
Analyst Ratings
In its analyst report released on July 18, 2023, Macquarie began covering Melco Resorts & Entertainment Limited (NASDAQ: MLCO). The stock was rated as an Outperform by the brokerage firm. Analysts have assigned Melco Resorts & Entertainment Limited (MLCO) an Buy rating. MLCO is a stock that is recommended for selling by 0 brokerage firms, while 2 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 10 others recommend it as a buy.
What is MLCO’s price target for the next 12 months?
The current consensus forecast for the stock is between $14.20 and $20.00, with a median target price of $18.00. In analyzing these forecasts, the average price target given by analysts for Melco Resorts & Entertainment Limited (MLCO) is $17.46.
