Melco Resorts & Entertainment Limited [NASDAQ: MLCO] slipped around -0.63 points on Wednesday, while shares priced at $18.46 at the close of the session, down -3.30%. The company report on November 5, 2020 that Melco Announces Unaudited Third Quarter 2020 Earnings.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”), a developer, owner, and operator of integrated resort facilities in Asia and Europe, reported its unaudited financial results for the third quarter of 2020.
Total operating revenues for the third quarter of 2020 were US$0.21 billion, representing a decrease of approximately 85% from US$1.44 billion for the comparable period in 2019. The decrease in total operating revenues was primarily attributable to softer performance in all gaming segments and non-gaming operations as a result of the COVID-19 pandemic, which resulted in a significant decline in inbound tourism in the third quarter of 2020.
Melco Resorts & Entertainment Limited stock is now -23.62% down from its year-to-date (YTD) trading value. MLCO Stock saw the intraday high of $19.18 and lowest of $18.39 per share. The company’s 52-week high price is 25.22, which means current price is +70.77% above from all time high which was touched on 01/02/20.
Compared to the average trading volume of 3.15M shares, MLCO reached a trading volume of 1266596 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Melco Resorts & Entertainment Limited [MLCO]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MLCO shares is $21.49 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MLCO stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Credit Suisse have made an estimate for Melco Resorts & Entertainment Limited shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 21, 2020. The new note on the price target was released on July 30, 2019, representing the official price target for Melco Resorts & Entertainment Limited stock.
The Average True Range (ATR) for Melco Resorts & Entertainment Limited is set at 0.81, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 3.32. The Price to Book ratio for the last quarter was 6.86, with the Price to Cash per share for the same quarter was set at 4.02.
How has MLCO stock performed recently?
Melco Resorts & Entertainment Limited [MLCO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.05. With this latest performance, MLCO shares gained by 14.30% in over the last four-week period, additionally plugging by 15.16% over the last 6 months – not to mention a drop of -14.73% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MLCO stock in for the last two-week period is set at 57.38, with the RSI for the last a single of trading hit 56.70, and the three-weeks RSI is set at 56.45 for Melco Resorts & Entertainment Limited [MLCO]. The present Moving Average for the last 50 days of trading for this stock 16.67, while it was recorded at 18.67 for the last single week of trading, and 16.58 for the last 200 days.
Melco Resorts & Entertainment Limited [MLCO]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Melco Resorts & Entertainment Limited [MLCO] shares currently have an operating margin of +13.48 and a Gross Margin at +25.63. Melco Resorts & Entertainment Limited’s Net Margin is presently recorded at +6.50.
Return on Total Capital for MLCO is now 10.29, given the latest momentum, and Return on Invested Capital for the company is 5.65. Return on Equity for this stock inclined to 16.37, with Return on Assets sitting at 4.07. When it comes to the capital structure of this company, Melco Resorts & Entertainment Limited [MLCO] has a Total Debt to Total Equity ratio set at 197.51. Additionally, MLCO Total Debt to Total Capital is recorded at 66.39, with Total Debt to Total Assets ending up at 50.77. Long-Term Debt to Equity for the company is recorded at 194.52, with the Long-Term Debt to Total Capital now at 65.38.
Reflecting on the efficiency of the workforce at the company, Melco Resorts & Entertainment Limited [MLCO] managed to generate an average of $16,198 per employee. Receivables Turnover for the company is 21.50 with a Total Asset Turnover recorded at a value of 0.63.Melco Resorts & Entertainment Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.
Earnings analysis for Melco Resorts & Entertainment Limited [MLCO]
With the latest financial reports released by the company, Melco Resorts & Entertainment Limited posted 0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.27/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -48.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MLCO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Melco Resorts & Entertainment Limited go to 7.49%.
Insider trade positions for Melco Resorts & Entertainment Limited [MLCO]
There are presently around $3,539 million, or 41.60% of MLCO stock, in the hands of institutional investors. The top three institutional holders of MLCO stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 28,220,542, which is approximately -22.537% of the company’s market cap and around 33.50% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 19,786,490 shares of the stock with an approximate value of $365.26 million in MLCO stocks shares; and HARDMAN JOHNSTON GLOBAL ADVISORS LLC, currently with $259.34 million in MLCO stock with ownership of nearly -0.047% of the company’s market capitalization.
Positions in Melco Resorts & Entertainment Limited stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 124 institutional holders increased their position in Melco Resorts & Entertainment Limited [NASDAQ:MLCO] by around 30,204,716 shares. Additionally, 123 investors decreased positions by around 24,085,518 shares, while 53 investors held positions by with 137,441,913 shares. The mentioned changes placed institutional holdings at 191,732,147 shares, according to the latest SEC report filing. MLCO stock had 38 new institutional investments in for a total of 12,318,874 shares, while 42 institutional investors sold positions of 4,351,741 shares during the same period.