Stock Price Performance And Outlook Of Melco Resorts & Entertainment Ltd ADR

In the last trading session, 3.25 million Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) shares changed hands as the company’s beta touched 1.14. With the company’s per share price at $7.38 changed hands at $0.12 or 1.65% during last session, the market valuation stood at $3.23B. MLCO’s last price was a discount, traded about -95.8% off its 52-week high of $14.45. The share price had its 52-week low at $6.55, which suggests the last value was 11.25% up since then. When we look at Melco Resorts & Entertainment Ltd ADR’s average trading volume, we note the 10-day average is 4.0 million shares, with the 3-month average coming to 2.57 million.

Analysts gave the Melco Resorts & Entertainment Ltd ADR (MLCO) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.18. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended MLCO as a Hold, 10 felt it is a Buy and 0 rated the stock as Underweight. Melco Resorts & Entertainment Ltd ADR’s EPS for the current quarter is expected to be $0.05.

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Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) trade information

Instantly MLCO was in green as seen at the end of in last trading. With action 7.11%, the performance over the past five days has been green. The jump to weekly highs of 7.76 on Monday, 11/20/23 added 1.65% to the stock’s daily price. The company’s shares are showing year-to-date downside of -35.83%, with the 5-day performance at 7.11% in the green. However, in the 30-day time frame, Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) is -7.87% down. Looking at the short shares, we see there were 8.44 million shares sold at short interest cover period of 3.91 days.

The consensus price target for the stock as assigned by Wall Street analysts is $13.92, meaning bulls need an upside of 46.98% from its current market value. According to analyst projections, MLCO’s forecast low is $8.80 with $19.70 as the target high. To hit the forecast high, the stock’s price needs a -166.94% plunge from its current level, while the stock would need to soar -19.24% for it to hit the projected low.

Melco Resorts & Entertainment Ltd ADR (MLCO) estimates and forecasts

Data shows that the Melco Resorts & Entertainment Ltd ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -35.32% over the past 6 months, a 86.39% in annual growth rate that is considerably higher than the industry average of 17.00%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Melco Resorts & Entertainment Ltd ADR will rise 108.80%, while the growth in revenue is estimated to hit 166.70% for the next quarter. Year-over-year growth is forecast to reach 182.50% up from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $1.11 billion. 1 analysts are of the opinion that Melco Resorts & Entertainment Ltd ADR’s revenue for the quarter ending Mar 2024 will be $1.09 billion. The company’s revenue for the corresponding quarters a year ago was $337.09 million and $891.99 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 228.00%. The estimates for the next quarter sales put growth at 22.40%.

The 2023 estimates are for Melco Resorts & Entertainment Ltd ADR earnings to increase by 106.36%, but the outlook for the next 5-year period is at 8.00% per year.

MLCO Dividends

Melco Resorts & Entertainment Ltd ADR is expected to release its next quarterly earnings report on November 07.

Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.00% of Melco Resorts & Entertainment Ltd ADR shares while 42.81% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 42.81%. There are 42.81% institutions holding the Melco Resorts & Entertainment Ltd ADR stock share, with ARGA Investment Management, LP the top institutional holder. As of Jun 29, 2023, the company held 5.12% of the shares, roughly 27.82 million MLCO shares worth $339.67 million.

Capital Research Global Investors holds the second largest percentage of outstanding shares, with 3.00% or 16.3 million shares worth $199.04 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Smallcap World Fund and Vanguard International Value Fund. With 19.75 million shares estimated at $241.18 million under it, the former controlled 3.63% of total outstanding shares. On the other hand, Vanguard International Value Fund held about 1.83% of the shares, roughly 9.94 million shares worth around $135.34 million.

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