why Melco Resorts & Entertainment Ltd ADR [MLCO] is a Good Choice for Investors After New Price Target of $10.82

Melco Resorts & Entertainment Ltd ADR [NASDAQ: MLCO] gained 3.19% on the last trading session, reaching $7.44 price per share at the time. The company report on March 22, 2024 at 7:51 AM that Studio City International Holdings Limited Announces Filing of Annual Report on Form 20-F for Fiscal Year 2023.

The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests can be made through the Information Request section on the Company’s investor relations website at https://ir.studiocity-macau.com/document-request.

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If compared to the average trading volume of 3.06M shares, MLCO reached a trading volume of 5833101 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 $10.82 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 1.58. 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. While these analysts kept the previous recommendation, Macquarie raised their target price to Outperform. The new note on the price target was released on July 18, 2023, representing the official price target for Melco Resorts & Entertainment Ltd ADR stock. On June 20, 2023, analysts increased their price target for MLCO shares from 14 to 18.20.

The Average True Range (ATR) for Melco Resorts & Entertainment Ltd ADR is set at 0.31, with the Price to Sales ratio for MLCO stock in the period of the last 12 months amounting to 0.86.

Trading performance analysis for MLCO stock

Melco Resorts & Entertainment Ltd ADR [MLCO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.83. With this latest performance, MLCO shares dropped by -3.75% in over the last four-week period, additionally sinking by -20.09% over the last 6 months – not to mention a drop of -41.05% 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 49.60, with the RSI for the last a single of trading hit 57.21, and the three-weeks RSI is set at 47.21 for Melco Resorts & Entertainment Ltd ADR [MLCO]. The present Moving Average for the last 50 days of trading for this stock 7.90, while it was recorded at 7.15 for the last single week of trading, and 9.46 for the last 200 days.

Melco Resorts & Entertainment Ltd ADR [MLCO]: A deeper dive into fundamental analysis

Melco Resorts & Entertainment Ltd ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.37 and a Current Ratio set at 1.40.

Melco Resorts & Entertainment Ltd ADR [MLCO]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Melco Resorts & Entertainment Ltd ADR posted -0.18/share EPS, while the average EPS was predicted by analysts to be reported at -0.31/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 41.90%. 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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in MLCO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in MLCO stock with ownership which is approximately 5.8386%.