BidaskClub upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a sell rating to a hold rating in a report issued on Friday, BidAskClub reports.
Several other analysts have also recently commented on the company. Goldman Sachs Group set a $27.00 price target on Melco Resorts & Entertainment and gave the company a buy rating in a report on Tuesday, May 28th. Nomura lifted their price target on Melco Resorts & Entertainment from $27.00 to $30.00 and gave the company a buy rating in a report on Wednesday, May 8th. Wolfe Research cut Melco Resorts & Entertainment from an outperform rating to a peer perform rating in a report on Wednesday, May 8th. Macquarie started coverage on Melco Resorts & Entertainment in a report on Monday, April 8th. They set an outperform rating and a $25.10 target price for the company. Finally, Zacks Investment Research cut Melco Resorts & Entertainment from a buy rating to a hold rating in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Melco Resorts & Entertainment has an average rating of Buy and a consensus price target of $28.02.
MLCO opened at $21.41 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.05 and a debt-to-equity ratio of 1.51. The stock has a market cap of $10.69 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.76. The company has a 50-day simple moving average of $20.78. Melco Resorts & Entertainment has a 12 month low of $15.33 and a 12 month high of $29.70.
Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Melco Resorts & Entertainment had a return on equity of 13.47% and a net margin of 6.00%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Equities research analysts predict that Melco Resorts & Entertainment will post 0.96 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Monday, May 20th were issued a dividend of $0.1551 per share. The ex-dividend date was Friday, May 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.90%. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. Melco Resorts & Entertainment’s payout ratio is presently 68.54%.
Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in Melco Resorts & Entertainment by 60.6% in the 4th quarter. Advisors Asset Management Inc. now owns 5,941 shares of the company’s stock worth $105,000 after acquiring an additional 2,242 shares during the period. Quadrant Capital Group LLC boosted its holdings in Melco Resorts & Entertainment by 123.4% in the 1st quarter. Quadrant Capital Group LLC now owns 5,310 shares of the company’s stock worth $116,000 after acquiring an additional 2,933 shares during the period. Gulf International Bank UK Ltd boosted its holdings in Melco Resorts & Entertainment by 14.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 5,450 shares of the company’s stock worth $123,000 after acquiring an additional 700 shares during the period. Executive Wealth Management LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $131,000. Finally, GAM Holding AG boosted its holdings in Melco Resorts & Entertainment by 18.2% in the 4th quarter. GAM Holding AG now owns 13,003 shares of the company’s stock worth $229,000 after acquiring an additional 2,000 shares during the period. Institutional investors and hedge funds own 33.31% of the company’s stock.
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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