Melco Resorts & Entertainment Ltd ADR [NASDAQ: MLCO] loss -7.20% or -0.62 points to close at $7.99 with a heavy trading volume of 5835454 shares. The company report on November 7, 2023 at 8:00 AM that Melco Announces Unaudited Third Quarter 2023 Earnings.
Total operating revenues for the third quarter of 2023 were US$1.02 billion, representing an increase of approximately 321% from US$241.8 million for the comparable period in 2022. The increase in total operating revenues was primarily attributable to the improved performance in all gaming segments and non-gaming operations following the relaxation of COVID-19 related restrictions in Macau in January 2023 and the opening of Studio City Phase 2.
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It opened the trading session at $8.54, the shares rose to $8.61 and dropped to $7.925, the range by which the price of stock traded the whole day. The daily chart for MLCO points out that the company has recorded -40.68% loss over the past six months. However, it is still -17.5% lower than its most recent low trading price.
If we look at the average trading volume of 3.12M shares, MLCO reached to a volume of 5835454 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Melco Resorts & Entertainment Ltd ADR [MLCO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MLCO shares is $11.73 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 1.46. 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.
Susquehanna have made an estimate for Melco Resorts & Entertainment Ltd ADR shares, keeping their opinion on the stock as Positive, with their previous recommendation back on December 15, 2023.
The Average True Range (ATR) for Melco Resorts & Entertainment Ltd ADR is set at 0.39, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 1.16.
Trading performance analysis for MLCO stock
Melco Resorts & Entertainment Ltd ADR [MLCO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -12.96. With this latest performance, MLCO shares gained by 2.04% in over the last four-week period, additionally sinking by -40.68% over the last 6 months – not to mention a drop of -39.79% 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 41.01, with the RSI for the last a single of trading hit 32.40, and the three-weeks RSI is set at 44.54 for Melco Resorts & Entertainment Ltd ADR [MLCO]. The present Moving Average for the last 50 days of trading for this stock 8.04, while it was recorded at 8.71 for the last single week of trading, and 10.68 for the last 200 days.
Melco Resorts & Entertainment Ltd ADR [MLCO]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Melco Resorts & Entertainment Ltd ADR [MLCO] shares currently have an operating margin of -53.89 and a Gross Margin at -15.76. Melco Resorts & Entertainment Ltd ADR’s Net Margin is presently recorded at -68.93.
Return on Total Capital for MLCO is now -8.95, given the latest momentum, and Return on Invested Capital for the company is -12.65. Additionally, MLCO Total Debt to Total Capital is recorded at 110.81, with Total Debt to Total Assets ending up at 93.68.
Reflecting on the efficiency of the workforce at the company, Melco Resorts & Entertainment Ltd ADR [MLCO] managed to generate an average of -$55,035 per employee. Receivables Turnover for the company is 24.22 with a Total Asset Turnover recorded at a value of 0.15.Melco Resorts & Entertainment Ltd ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.63 and a Current Ratio set at 1.65.
Melco Resorts & Entertainment Ltd ADR [MLCO]: An earnings per share (EPS) analysis
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 Ltd ADR go to 8.00%.
An analysis of Institutional ownership at Melco Resorts & Entertainment Ltd ADR [MLCO]
The top three institutional holders of MLCO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MLCO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MLCO stock with ownership which is approximately 5.8325%.
