Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) price on current trading day, fall -0.26% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $5.72.
A look at the stock’s price movement, the level at last check in today’s session was $5.73. Turning to its 52-week performance, $8.90 and $4.78 were the 52-week high and 52-week low respectively. Overall, MLCO moved -3.46% over the past month.
Melco Resorts & Entertainment Ltd ADR’s market cap currently stands at around $2.40 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 1.18B for the company’s revenue for the quarter, with a low and high estimate of 1.16B and 1.2B respectively. The average forecast suggests up to a 7.76% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.62B, representing a 22.44% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MLCO is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 6 recommend MLCO as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MLCO’s current price about -0.37% and -1.13% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.42, while 7-day volatility ratio is 4.23% and 4.55% in the 30-day chart. Further, Melco Resorts & Entertainment Ltd ADR (MLCO) has a beta value of 1.02, and an average true range (ATR) of 0.29. Analysts have given the company’s stock an average 52-week price target of $9.2, forecast between a low of $9.2 and high of $9.2. Looking at the price targets, the low is -60.84% off recent price level in today’s trading while to achieve the yearly target high, it has to move -60.84%. Nonetheless, investors will most likely welcome a -60.84% jump to $9.2 which is the analysts’ median price.
If we refocus on Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO), historical trading data shows that trading volumes averaged 3.87 million over the past 3 months. The company’s latest data on shares outstanding shows there are 419.71 million shares.
The 0.06% of Melco Resorts & Entertainment Ltd ADR’s shares are in the hands of company insiders while institutional holders own 36.43% of the company’s shares. Current price change has pushed the stock -1.30% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MLCO stock continues to rise going into the next quarter.
