Melco Resorts & Entertainment Ltd ADR (NASDAQ: MLCO) Could Have Exceptional Returns?

In the last trading session, 5.83 million shares of the Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) were traded, and its beta was 1.12. Most recently the company’s share price was $7.44, and it changed around $0.23 or 3.19% from the last close, which brings the market valuation of the company to $3.25B. MLCO currently trades at a discount to its 52-week high of $14.45, offering almost -94.22% off that amount. The share price’s 52-week low was $6.61, which indicates that the current value has risen by an impressive 11.16% since then. We note from Melco Resorts & Entertainment Ltd ADR’s average daily trading volume that its 10-day average is 1.94 million shares, with the 3-month average coming to 3.06 million.

Melco Resorts & Entertainment Ltd ADR stock received a consensus recommendation rating of Buy, based on a mean score of 1.58. If we narrow it down even further, the data shows that 0 out of 19 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 4 recommended MLCO as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Melco Resorts & Entertainment Ltd ADR is expected to report earnings per share of $0.03 for the current quarter.

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

Instantly MLCO has showed a green trend with a performance of 3.19% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -16.12% year-to-date, but still up 7.83% over the last five days. On the other hand, Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) is -3.75% down in the 30-day period. We can see from the shorts that 8.93 million shares have been sold at a short interest cover period of 2.33 day(s).

The consensus price target as assigned by Wall Street analysts is $10.75, which translates to bulls needing to increase their stock price by 30.79% from its current value. Analyst projections state that MLCO is forecast to be at a low of $10 and a high of $11.5.

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

Melco Resorts & Entertainment Ltd ADR share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -20.09 percent over the past six months and at a 660.00% annual growth rate that is well above the industry average of 9.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 116.70% in revenue this quarter, and will report an increase of 220.00% in the next quarter. The year-over-year growth rate is expected to be 22.60%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $1.12 billion in revenue for the current quarter. 4 analysts expect Melco Resorts & Entertainment Ltd ADR to make $1.14 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $891.99 million and $947.94 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 25.30%. Forecasts for the next quarter put sales growth at 20.10%.

Melco Resorts & Entertainment Ltd ADR earnings are expected to increase by 146.95% in 2024, but the outlook is positive 8.00% per year for the next five years.

MLCO Dividends

Melco Resorts & Entertainment Ltd ADR’s next quarterly earnings report is expected to be released around May 08 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 0.00% of Melco Resorts & Entertainment Ltd ADR shares, and 40.66% of them are in the hands of institutional investors. The stock currently has a share float of 40.66%. Melco Resorts & Entertainment Ltd ADR stock is held by 234 institutions, with ARGA Investment Management, LP being the largest institutional investor. By Jun 29, 2023, it held 5.12% of the shares, which is about 27.82 million shares worth $339.67 million.

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

Smallcap World Fund and Vanguard International Value Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 19.75 million shares worth $241.18 million, making up 3.63% of all outstanding shares. On the other hand, Vanguard International Value Fund held roughly 9.94 million shares worth around $135.34 million, which represents about 1.83% of the total shares outstanding.