Melco Resorts & Entertainment (NASDAQ:MLCO) was upgraded by investment analysts at TheStreet from a “d” rating to a “c-” rating in a report issued on Monday, TheStreetRatingsTable reports.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. JPMorgan Chase & Co. raised their price target on shares of Melco Resorts & Entertainment from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 17th. Macquarie cut shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating and set a $20.00 price target on the stock. in a research note on Thursday, January 7th. CLSA raised shares of Melco Resorts & Entertainment from an “underperform” rating to an “outperform” rating in a research note on Thursday, February 25th. Finally, Credit Suisse Group cut shares of Melco Resorts & Entertainment from a “neutral” rating to an “underperform” rating and set a $14.00 price target on the stock. in a research note on Tuesday, January 19th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Melco Resorts & Entertainment has an average rating of “Buy” and an average price target of $21.23.
Shares of NASDAQ MLCO opened at $21.17 on Monday. The stock has a market cap of $10.10 billion, a price-to-earnings ratio of -10.13, a PEG ratio of 135.39 and a beta of 1.76. Melco Resorts & Entertainment has a 52 week low of $10.81 and a 52 week high of $23.65. The company’s 50-day moving average price is $18.41 and its 200 day moving average price is $17.90. The company has a current ratio of 1.69, a quick ratio of 1.66 and a debt-to-equity ratio of 2.75.
Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings data on Thursday, February 25th. The company reported ($0.40) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.60) by $0.20. The firm had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $526.82 million. Melco Resorts & Entertainment had a negative net margin of 37.56% and a negative return on equity of 45.84%. As a group, research analysts expect that Melco Resorts & Entertainment will post -2.7 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in MLCO. Capital Asset Advisory Services LLC purchased a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth about $27,000. San Francisco Sentry Investment Group CA purchased a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth about $78,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Melco Resorts & Entertainment by 8.2% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 7,900 shares of the company’s stock worth $132,000 after acquiring an additional 600 shares during the period. Paloma Partners Management Co purchased a new position in shares of Melco Resorts & Entertainment during the 3rd quarter worth about $176,000. Finally, Raymond James & Associates purchased a new position in shares of Melco Resorts & Entertainment during the 3rd quarter worth about $177,000. Institutional investors and hedge funds own 41.69% 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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