Melco Resorts & Entertainment Limited [MLCO] Stock trading around $19.84 per share: What’s Next?

Melco Resorts & Entertainment Limited [NASDAQ: MLCO] stock went on an upward path that rose over 3.39% on Wednesday, amounting to a one-week price increase of more than 3.17%. The company report on April 28, 2021 that Studio City International Holdings Limited Announces Unaudited First Quarter 2021 Earnings.

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Studio City International Holdings Limited (NYSE: MSC) (“Studio City” or the “Company”), a world-class integrated resort located in Cotai, Macau, reported its unaudited financial results for the first quarter of 2021.

Total operating revenues for the first quarter of 2021 were US$28.6 million, compared to total operating revenues of US$37.1 million in the first quarter of 2020. The decrease in total operating revenues was due to the decrease in revenues from the provision of gaming related services and lower non-gaming revenues as a result of the COVID-19 pandemic, which resulted in a year-over-year decline in inbound tourism in the first quarter of 2021 since the first quarter of 2020 was only partially impacted by the restrictions from the COVID-19 pandemic.

Over the last 12 months, MLCO stock rose by 32.09%. The one-year Melco Resorts & Entertainment Limited stock forecast points to a potential upside of 12.64. The average equity rating for MLCO stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $9.61 billion, with 476.97 million shares outstanding and 463.85 million shares in the current float. Compared to the average trading volume of 2.49M shares, MLCO stock reached a trading volume of 3422247 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $22.71 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.

CLSA have made an estimate for Melco Resorts & Entertainment Limited shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 25, 2021. The new note on the price target was released on January 19, 2021, representing the official price target for Melco Resorts & Entertainment Limited stock. Previously, the target price had yet another raise to $20, while Macquarie analysts kept a Neutral rating on MLCO stock.

The Average True Range (ATR) for Melco Resorts & Entertainment Limited is set at 0.65, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 5.56. The Price to Book ratio for the last quarter was 8.59, with the Price to Cash per share for the same quarter was set at 3.62.

MLCO Stock Performance Analysis:

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 3.17. With this latest performance, MLCO shares gained by 1.43% in over the last four-week period, additionally plugging by 24.70% over the last 6 months – not to mention a rise of 32.09% 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 51.80, with the RSI for the last a single of trading hit 56.43, and the three-weeks RSI is set at 50.90 for Melco Resorts & Entertainment Limited [MLCO]. The present Moving Average for the last 50 days of trading for this stock 20.37, while it was recorded at 19.07 for the last single week of trading, and 18.25 for the last 200 days.

Insight into Melco Resorts & Entertainment Limited 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 -51.62 and a Gross Margin at -23.50. Melco Resorts & Entertainment Limited’s Net Margin is presently recorded at -73.12.

Return on Total Capital for MLCO is now -11.24, given the latest momentum, and Return on Invested Capital for the company is -17.73. Return on Equity for this stock declined to -71.48, with Return on Assets sitting at -13.68. 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 553.35. Additionally, MLCO Total Debt to Total Capital is recorded at 84.69, with Total Debt to Total Assets ending up at 67.60. Long-Term Debt to Equity for the company is recorded at 543.63, with the Long-Term Debt to Total Capital now at 83.21.

Reflecting on the efficiency of the workforce at the company, Melco Resorts & Entertainment Limited [MLCO] managed to generate an average of -$64,097 per employee. Receivables Turnover for the company is 8.34 with a Total Asset Turnover recorded at a value of 0.19.Melco Resorts & Entertainment Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.

MLCO Stock EPS

With the latest financial reports released by the company, Melco Resorts & Entertainment Limited posted -0.76/share EPS, while the average EPS was predicted by analysts to be reported at -0.43/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -76.70%. 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 -9.97%.

Melco Resorts & Entertainment Limited [MLCO] Insider Position Details

There are presently around $3,635 million, or 38.70% 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 29,435,931, which is approximately 4.307% of the company’s market cap and around 33.50% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 21,189,225 shares of the stock with an approximate value of $420.39 million in MLCO stocks shares; and HARDMAN JOHNSTON GLOBAL ADVISORS LLC, currently with $363.61 million in MLCO stock with ownership of nearly 30.452% of the company’s market capitalization.

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Positions in Melco Resorts & Entertainment Limited stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 143 institutional holders increased their position in Melco Resorts & Entertainment Limited [NASDAQ:MLCO] by around 22,228,716 shares. Additionally, 109 investors decreased positions by around 17,903,908 shares, while 46 investors held positions by with 143,080,414 shares. The mentioned changes placed institutional holdings at 183,213,038 shares, according to the latest SEC report filing. MLCO stock had 45 new institutional investments in for a total of 4,728,449 shares, while 28 institutional investors sold positions of 4,481,504 shares during the same period.

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