Melco Resorts & Entertainment (NASDAQ:MLCO) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Thursday, February 8th. JPMorgan Chase upgraded Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and set a $32.00 price objective for the company in a research report on Tuesday, December 19th. Goldman Sachs upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating in a research report on Sunday, February 4th. Finally, CLSA assumed coverage on Melco Resorts & Entertainment in a research report on Monday, February 26th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $28.78.
MLCO stock opened at $31.59 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $15,197.11, a PE ratio of 34.34, a P/E/G ratio of 2.30 and a beta of 1.55. Melco Resorts & Entertainment has a 1 year low of $19.56 and a 1 year high of $31.80.
Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Melco Resorts & Entertainment had a net margin of 6.47% and a return on equity of 13.83%. The business’s revenue was up 11.7% compared to the same quarter last year. equities research analysts predict that Melco Resorts & Entertainment will post 1.12 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Melco Resorts & Entertainment by 6.5% during the fourth quarter. BlackRock Inc. now owns 17,208,627 shares of the company’s stock worth $499,739,000 after buying an additional 1,054,469 shares during the period. Hardman Johnston Global Advisors LLC purchased a new position in shares of Melco Resorts & Entertainment during the fourth quarter worth $158,130,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Melco Resorts & Entertainment by 348.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,370,835 shares of the company’s stock worth $155,969,000 after buying an additional 4,171,924 shares during the period. Nicholas Investment Partners LP boosted its position in shares of Melco Resorts & Entertainment by 7.1% during the fourth quarter. Nicholas Investment Partners LP now owns 3,750,000 shares of the company’s stock worth $108,900,000 after buying an additional 250,000 shares during the period. Finally, Platinum Investment Management Ltd. boosted its position in shares of Melco Resorts & Entertainment by 64.6% during the fourth quarter. Platinum Investment Management Ltd. now owns 3,179,248 shares of the company’s stock worth $92,325,000 after buying an additional 1,247,778 shares during the period. Institutional investors and hedge funds own 41.02% of the company’s stock.
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Melco Resorts & Entertainment Company Profile
Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. 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.
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