Melco Resorts & Entertainment (MLCO) Upgraded at TheStreet

Melco Resorts & Entertainment (NASDAQ:MLCO) was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating in a note issued to investors on Wednesday.

A number of other research analysts also recently issued reports on MLCO. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Nomura raised their price target on shares of Melco Resorts & Entertainment to $27.00 and gave the stock a “buy” rating in a research report on Wednesday. China Renaissance Securities upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday. CLSA upgraded shares of Melco Resorts & Entertainment from an “underperform” rating to an “outperform” rating in a research report on Tuesday. Finally, Deutsche Bank set a $24.00 price target on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.64.

Shares of MLCO opened at $23.59 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.95 and a debt-to-equity ratio of 1.43. The company has a market cap of $11.57 billion, a P/E ratio of 26.51, a PEG ratio of 1.35 and a beta of 1.61. Melco Resorts & Entertainment has a 1 year low of $15.33 and a 1 year high of $32.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Tuesday, February 19th. The company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.04. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.37 billion. Melco Resorts & Entertainment had a net margin of 6.81% and a return on equity of 13.92%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. On average, equities analysts predict that Melco Resorts & Entertainment will post 0.92 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Executive Wealth Management LLC bought a new stake in Melco Resorts & Entertainment in the 4th quarter valued at about $131,000. Millennium Management LLC lifted its position in Melco Resorts & Entertainment by 24.2% in the 4th quarter. Millennium Management LLC now owns 157,590 shares of the company’s stock valued at $2,777,000 after purchasing an additional 30,717 shares during the last quarter. Vista Investment Management lifted its position in Melco Resorts & Entertainment by 15.2% in the 4th quarter. Vista Investment Management now owns 23,420 shares of the company’s stock valued at $413,000 after purchasing an additional 3,085 shares during the last quarter. Legal & General Group Plc lifted its position in Melco Resorts & Entertainment by 284.4% in the 4th quarter. Legal & General Group Plc now owns 720,559 shares of the company’s stock valued at $12,689,000 after purchasing an additional 533,094 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in Melco Resorts & Entertainment in the 4th quarter valued at about $874,000. Hedge funds and other institutional investors own 35.96% 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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Analyst Recommendations for Melco Resorts & Entertainment (NASDAQ:MLCO)

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