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Melco Resorts (MLCO) in Focus: Stock Moves 5.5% Higher

Zacks Equity Research

Melco Resorts & Entertainment Limited MLCO was a big mover last session, as the company saw its shares rise more than 5% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $20.72 to $22.53 in the past one-month time frame.

The move came after the company announced that it has received a total of 85 stars across all of its properties in the 2019 Forbes Travel Guide. Notably, this includes 13 Five-Star awards and 5 Four-Star awards.

The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Melco Resorts currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Melco Resorts & Entertainment Limited Price

Melco Resorts & Entertainment Limited Price | Melco Resorts & Entertainment Limited Quote

Investors interested in the Gaming industry may consider PlayAGS, Inc. AGS, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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