Melco Resorts & Entertainment (NASDAQ:MLCO) Stock Rating Upgraded by Goldman Sachs Group

Goldman Sachs Group upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a neutral rating to a buy rating in a report released on Sunday, February 4th, Marketbeat reports.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of Melco Resorts & Entertainment from a neutral rating to an overweight rating and set a $32.00 target price for the company in a research report on Tuesday, December 19th. Daiwa Capital Markets upgraded Melco Resorts & Entertainment from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Thursday, November 30th. BidaskClub upgraded Melco Resorts & Entertainment from a hold rating to a buy rating in a report on Thursday, December 21st. Nomura raised their price objective on Melco Resorts & Entertainment from $29.00 to $33.00 and gave the company a buy rating in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded Melco Resorts & Entertainment from a hold rating to a buy rating and set a $28.00 price objective on the stock in a research note on Thursday, November 9th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Melco Resorts & Entertainment currently has a consensus rating of Buy and a consensus price target of $26.46.

Shares of Melco Resorts & Entertainment (NASDAQ:MLCO) opened at $26.82 on Friday. Melco Resorts & Entertainment has a 52-week low of $16.00 and a 52-week high of $30.49. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.10 and a quick ratio of 1.07. The stock has a market cap of $12,963.54, a PE ratio of 28.96, a PEG ratio of 2.05 and a beta of 1.72.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Thursday, February 8th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Melco Resorts & Entertainment had a return on equity of 13.83% and a net margin of 6.47%. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.36 billion. Melco Resorts & Entertainment’s quarterly revenue was up 11.7% compared to the same quarter last year. sell-side analysts forecast that Melco Resorts & Entertainment will post 1.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, February 16th. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is 50.73%.

A number of large investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its position in Melco Resorts & Entertainment by 17.2% in the 3rd quarter. Advisor Group Inc. now owns 15,863 shares of the company’s stock worth $383,000 after buying an additional 2,324 shares during the last quarter. Financial Counselors Inc. lifted its position in Melco Resorts & Entertainment by 23.6% in the 4th quarter. Financial Counselors Inc. now owns 12,617 shares of the company’s stock worth $366,000 after buying an additional 2,406 shares during the last quarter. American International Group Inc. lifted its position in Melco Resorts & Entertainment by 9.3% in the 4th quarter. American International Group Inc. now owns 30,776 shares of the company’s stock worth $894,000 after buying an additional 2,624 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Melco Resorts & Entertainment by 18.8% in the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 22,001 shares of the company’s stock worth $638,000 after purchasing an additional 3,487 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Melco Resorts & Entertainment in the 3rd quarter worth approximately $112,000. Institutional investors own 40.61% of the company’s stock.

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About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

Analyst Recommendations for Melco Resorts & Entertainment (NASDAQ:MLCO)

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