Melco Resorts & Entertainment Limited (NASDAQ: MLCO) stock fell -2.60% on Tuesday to $13.10 against a previous-day closing price of $13.45. With 4.34 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.74 million shares. During the session, the Resorts & Casinos company that operates in wider Consumer Cyclical sector, reached to the highest price of $13.68 whereas the lowest price it dropped to was $13.07. The 52-week range on MLCO shows that it touched its highest point at $14.15 and its lowest point at $4.06 during that stretch. It currently has a 1-year price target of $12.70. Beta for the stock currently stands at 1.13.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MLCO was up-trending over the past week, with a rise of 0.15%, but this was up by 14.61% over a month. Three-month performance surged to 111.97% while six-month performance rose 129.02%. The stock gained 17.38% in the past year, while it has gained 13.91% so far this year.
Float and Shares Shorts:
At present, 462.24 million MLCO shares are outstanding with a float of 440.64 million shares on hand for trading. On Oct 13, 2022, short shares totaled 10.56 million, which was 2.31% higher than short shares on Sep 14, 2022. In addition to Mr. Yau Lung Ho as the firm’s Founder, Chairman & CEO, Mr. Evan Andrew Winkler serves as its Pres & Director.
Through their ownership of 41.63% of MLCO’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 23.19% of MLCO, in contrast to 17.43% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in MLCO with 6.64% of the stake, ARGA Investment Management LP holds 29,570,341 shares worth 29,570,341. A second-largest stockholder of MLCO, Hardman Johnston Global Advisors, holds 19,201,192 shares, controlling over 4.31% of the firm’s shares. Capital Research & Management Co is the third largest shareholder in MLCO, holding 10,982,496 shares or 2.47% stake. With a 3.74% stake in MLCO, the American Funds Small Cap World Fu is the largest stakeholder. A total of 16,630,841 shares are owned by the mutual fund manager. The Vanguard International Value Fund, which owns about 2.37% of MLCO stock, is the second-largest Mutual Fund holder. It holds 10,563,690 shares valued at 121.48 million. John Hancock III – International holds 1.86% of the stake in MLCO, owning 8,263,458 shares worth 95.03 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MLCO since 11 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MLCO analysts setting a high price target of $19.80 and a low target of $6.30, the average target price over the next 12 months is $14.48. Based on these targets, MLCO could surge 51.15% to reach the target high and fall by -51.91% to reach the target low. Reaching the average price target will result in a growth of 10.53% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MLCO will report FY 2022 earnings on 02/27/2024. Analysts have provided yearly estimates in a range of -$0.70 being high and -$2.56 being low. For MLCO, this leads to a yearly average estimate of -$1.99. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Melco Resorts & Entertainment Limited surprised analysts by $0.04 when it reported -$0.52 EPS against a consensus estimate of -$0.56. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.57 and the low estimate is -$1.15. The average estimate for the next quarter is thus -$0.84.
Dividends & Yield:
In terms of dividends, MLCO has a dividend of $0.46 is likely to be paid on average over the next five years. Dividend yield is another indicator that appeals to many investors, and MLCO currently yields $0.83. In the past year, MLCO’s dividend yield has been $0.83, but when looking at the stock over the past five years, its yield has been $2.23. Accordingly, MLCO has a current buyback yield of $1.05. This was $1.05 for the TTM, and it was $6.76 for the past five years.