At the last check on Thursday, Melco Resorts & Entertainment Limited’s (NASDAQ:MLCO) stock was down -$0.23, moving down -2.23 percent to $9.85. The average number of shares traded per day over the past five days has been 1,756,012 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.43 fall in that time frame. In the last twenty days, the average volume was 2,236,378, while in the previous 50 days, it was 2,904,977.
Since last month, MLCO stock retreated -10.08%. Shares of the company fell to $9.76 on 09/21/23, the lowest level in the past month. A 52-week high of $14.45 was reached on 04/20/23 after having rallying from a 52-week low of $4.72. Since the beginning of this year, MLCO’s stock price has dropped by -14.30% or -$1.63, and marked a new high 9 times. However, the stock has declined by -31.82% since its 52-week high.
Valuation Metrics
The latest dividend of $0.1651 per share was paid out, which is 0.06% more than last year’s $0.1650.
Financial Health
In the three months ended June 29, Melco Resorts & Entertainment Limited’s quick ratio stood at 1.40, while its current ratio was 1.50, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 32.40% percent. In the year ended June 29, EBITDA margin amounted to -16.91%, whereas operating margins totaled -14.90%. Based on annual data, MLCO earned $286.52 million in gross profit and brought in $1.35 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -9.60%. Return on equity (ROE) for the past 12 months was 64.40%.
In Melco Resorts & Entertainment Limited’s quarter-end financial report for June 29, it reported total debt of $8.09 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. MLCO’s revenue fell -49.07% during the quarter, while net income inched up to $1.35 billion. While analysts expected Melco Resorts & Entertainment Limited to report -$0.06 quarterly earnings, the actual figure was -$0.05 per share, beating the consensus estimate by 16.70%. During the quarter, the company generated $64.28 million in EBITDA. The liabilities of Melco Resorts & Entertainment Limited were 9.5 billion at the end of its most recent quarter ended June 29, and its total debt was $8.18 billion.
Technical Picture
This quick technical analysis looks at Melco Resorts & Entertainment Limited’s (MLCO) price momentum. With a historical volatility rate of 25.24%, the RSI 9-day stood at 28.87% on 20 September.
With respect to its five-day moving average, the current Melco Resorts & Entertainment Limited price is down by -4.13% percent or -$0.43. At present, MLCO shares trade -10.88% below its 20-day simple moving average and -27.60% percent below its 100-day simple moving average. However, the stock is currently trading approximately -26.69% below its SMA50 and +9.72% above its SMA200.
Stochastic coefficient K was 6.80% and Stochastic coefficient D was 15.50%, while ATR was 0.34. Given the Stochastic reading of 7.16% for the 14-day period, the RSI (14) reading has been calculated as 31.45%. As of today, the MACD Oscillator reading stands at -0.16, while the 14-day reading stands at -0.31.
Analyst Ratings
Macquarie launched its rating on Melco Resorts & Entertainment Limited (NASDAQ: MLCO) to an Outperform in a note to investors on July 18, 2023. Melco Resorts & Entertainment Limited (MLCO) has been rated Buy by analysts. According to 0 brokerage firms, MLCO is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Melco Resorts & Entertainment Limited stock as buy, with 9 recommending it as overweight.
With a median target price of $17.50, the current consensus forecast for the stock is $14.20 – $20.00. Based on these forecasts, analysts predict Melco Resorts & Entertainment Limited (MLCO) will achieve an average price target of $17.36.
