Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is 2.96% higher on its value in year-to-date trading and has touched a low of $10.81 and a high of $21.45 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MLCO stock was last observed hovering at around $18.68 in the last trading session, with the day’s gains setting it 0.42% off its average median price target of $22.15 for the next 12 months. It is also 36.33% off the consensus price target high of $30.00 offered by 16 analysts, but current levels are -36.43% lower than the price target low of $14.00 for the same period.
Even if you’re not actively in crypto, you deserve to know what’s actually going on...
Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.
Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.
Currently trading at $19.10, the stock is 12.06% and 7.83% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.7 million and changing 2.25% at the moment leaves the stock 10.58% off its SMA200. MLCO registered -6.19% loss for a year compared to 6-month loss of -2.35%. The firm has a 50-day simple moving average (SMA 50) of $17.25 and a 200-day simple moving average (SMA200) of $17.69.
The stock witnessed a 13.15% gain in the last 1 month and extending the period to 3 months gives it a 3.52%, and is 7.30% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.25% over the week and 3.18% over the month.
Melco Resorts & Entertainment Limited (MLCO) has around 23078 employees, a market worth around $8.96B and $2.65B in sales. Profit margin for the company is -37.60%. Distance from 52-week low is 76.69% and -10.96% from its 52-week high. The company has generated returns on investments over the last 12 months (10.30%).
Melco Resorts & Entertainment Limited (MLCO) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Melco Resorts & Entertainment Limited (MLCO) is a “Overweight”. 16 analysts offering their recommendations for the stock have an average rating of 2.20, where 1 rate it as a Hold and 2 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
Melco Resorts & Entertainment Limited is expected to release its quarterly report on 05/06/2021 and quarterly earnings per share for the current quarter are estimated at -$0.67 with sales reaching $502.38M over the same period.The EPS is expected to grow by 15.20% this year, but quarterly earnings will post -68.50% year-over-year. Quarterly sales are estimated to shrink -65.40% in year-over-year returns.
Melco Resorts & Entertainment Limited (MLCO) Top Institutional Holders
385 institutions hold shares in Melco Resorts & Entertainment Limited (MLCO), with institutional investors hold 41.47% of the company’s shares. The shares outstanding are 476.94M, and float is at 455.32M with Short Float at 0.54%. Institutions hold 41.47% of the Float.
The top institutional shareholder in the company is Capital Research Global Investors with over 28.22 million shares valued at $469.87 million. The investor’s holdings represent 5.71% of the MLCO Shares outstanding. As of Sep 29, 2020, the second largest holder is Capital World Investors with 19.79 million shares valued at $329.45 million to account for 4.00% of the shares outstanding. The other top investors are Hardman Johnston Global Advisors LLC which holds 14.05 million shares representing 2.84% and valued at over $233.91 million, while Blackrock Inc. holds 2.35% of the shares totaling 11.63 million with a market value of $215.72 million.
Melco Resorts & Entertainment Limited (MLCO): Who are the competitors?
The company’s main competitors (and peers) include Las Vegas Sands Corp. (LVS) that is -5.88% lower over the past 12 months. Wynn Resorts Limited (WYNN) is -0.94% down on the 1-year trading charts. Short interest in the company’s stock has risen 8.2% from the last report on Dec 30, 2020 to stand at a total of 2.24 million short shares sold with a short interest ratio of 1.13.