Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) shares, rose in value, with the stock price down by -1.80% to the previous day’s close as strong demand from buyers drove the stock to $7.09.
Actively observing the price movement in the last trading, the stock closed the session at $7.22. The value of beta (5-year monthly) was 1.12. Referring to stock’s 52-week performance, its high was $14.45, and the low was $6.61. On the whole, MLCO has fluctuated by -4.06% over the past month.
With the market capitalization of Melco Resorts & Entertainment Ltd ADR currently standing at about $3.10 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.03, which is expected to increase to $0.1 for fiscal year $0.19 and then to about $0.54 by fiscal year 2025. Data indicates that the EPS growth is expected to be 130.20% in 2025, while the next year’s EPS growth is forecast to be 184.20%.
Analysts have estimated the company’s revenue for the quarter at $1.12 billion, with a low estimate of $1.02 billion and a high estimate of $1.19 billion. According to the average forecast, sales growth in current quarter could jump up 25.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $4.63 billion, representing an increase of 22.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MLCO’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MLCO currently trading nearly -2.05% and -10.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 42.32, while the 7-day volatility ratio is showing 4.49% which for the 30-day chart, stands at 3.47%. Furthermore, Melco Resorts & Entertainment Ltd ADR (MLCO)’s beta value is 1.09, and its average true range (ATR) is 0.31.
A comparison of Melco Resorts & Entertainment Ltd ADR (MLCO) with its peers suggests the former has fared considerably weaker in the market. MLCO showed an intraday change of -1.80% in last session, and over the past year, it shrunk by -44.17%%.
Data on historical trading for Melco Resorts & Entertainment Ltd ADR (NASDAQ:MLCO) indicates that the trading volumes over the past 10 days have averaged 2.21 million and over the past 3 months, they’ve averaged 3.03 million. According to company’s latest data on outstanding shares, there are 437.09 million shares outstanding.
Nearly 0.06% of Melco Resorts & Entertainment Ltd ADR’s shares belong to company insiders and institutional investors own 40.40% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.93 million shares as on Mar 15, 2024, resulting in a short ratio of 2.33. According to the data, the short interest in Melco Resorts & Entertainment Ltd ADR (MLCO) stood at 2.01% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 5.49 million. The stock has fallen by -20.07% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MLCO stock heading into the next quarter.
