What’s Melco Resorts & Entertainment Limited (MLCO) Upside After Touching 52-Week High?

April 17, 2018 - By Richard Conner

The stock of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) hit a new 52-week high and has $34.28 target or 8.00 % above today’s $31.74 share price. The 9 months bullish chart indicates low risk for the $15.55B company. The 1-year high was reported on Apr, 17 by Barchart.com. If the $34.28 price target is reached, the company will be worth $1.24B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.47% or $0.15 during the last trading session, reaching $31.74. About 1.44 million shares traded. Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has risen 50.79% since April 17, 2017 and is uptrending. It has outperformed by 39.24% the S&P500.

Analysts await Melco Resorts & Entertainment Limited (NASDAQ:MLCO) to report earnings on May, 3. They expect $0.27 earnings per share, up 12.50 % or $0.03 from last year’s $0.24 per share. MLCO’s profit will be $132.24M for 29.39 P/E if the $0.27 EPS becomes a reality. After $0.20 actual earnings per share reported by Melco Resorts & Entertainment Limited for the previous quarter, Wall Street now forecasts 35.00 % EPS growth.

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. The company has market cap of $15.55 billion. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities. It has a 45.02 P/E ratio. The firm also operates Altira Macau, a casino hotel, which has approximately 112 gaming tables and 56 gaming machines; 230 hotel rooms; various fine dining and casual restaurants, and recreation and leisure facilities; and various non-gaming amenities comprising spa, gymnasium, outdoor garden podium, and sky terrace lounge.

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Ratings Chart

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