Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is 6.95% higher on its value in year-to-date trading and has touched a low of $14.18 and a high of $23.65 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 $19.19 in the last trading session, with the day’s gains setting it 0.65% off its average median price target of $23.80 for the next 12 months. It is also 29.14% off the consensus price target high of $28.00 offered by 15 analysts, but current levels are -41.71% lower than the price target low of $14.00 for the same period.
Currently trading at $19.84, the stock is 0.63% and -2.46% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.42 million and changing 3.39% at the moment leaves the stock 8.77% off its SMA200. MLCO registered 32.09% gain for a year compared to 6-month gain of 24.70%. The firm has a 50-day simple moving average (SMA 50) of $20.70 and a 200-day simple moving average (SMA200) of $18.08.
The stock witnessed a 1.43% loss in the last 1 month and extending the period to 3 months gives it a 28.08%, and is 3.17% 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 3.45% over the week and 3.15% over the month.
Melco Resorts & Entertainment Limited (MLCO) has around 19746 employees, a market worth around $9.61B and $1.73B in sales. Fwd P/E is 30.57. Profit margin for the company is -73.10%. Distance from 52-week low is 39.92% and -16.10% from its 52-week high. The company has generated returns on investments over the last 12 months (-13.50%).
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”. 15 analysts offering their recommendations for the stock have an average rating of 2.10, where 1 rate it as a Hold and 3 think it is a “Overweight”. 9 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 07/28/2021 and quarterly earnings per share for the current quarter are estimated at -$0.36 with sales reaching $591.26M over the same period.The EPS is expected to shrink by -441.30% this year, but quarterly earnings will post 119.10% year-over-year. Quarterly sales are estimated to shrink -27.10% in year-over-year returns.
Melco Resorts & Entertainment Limited (MLCO) Top Institutional Holders
402 institutions hold shares in Melco Resorts & Entertainment Limited (MLCO), with institutional investors hold 38.72% of the company’s shares. The shares outstanding are 476.97M, and float is at 463.85M with Short Float at 0.60%. Institutions hold 38.72% of the Float.
The top institutional shareholder in the company is Capital Research Global Investors with over 29.44 million shares valued at $546.04 million. The investor’s holdings represent 6.06% of the MLCO Shares outstanding. As of Dec 30, 2020, the second largest holder is Capital World Investors with 21.19 million shares valued at $393.06 million to account for 4.36% of the shares outstanding. The other top investors are Hardman Johnston Global Advisors LLC which holds 18.33 million shares representing 3.77% and valued at over $339.97 million, while Blackrock Inc. holds 2.40% 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 32.55% higher over the past 12 months. Wynn Resorts Limited (WYNN) is 58.56% up on the 1-year trading charts. Short interest in the company’s stock has fallen -16.25% from the last report on Apr 14, 2021 to stand at a total of 2.79 million short shares sold with a short interest ratio of 1.57.