Melco Resorts & Entertainment (MLCO) PT Set at $29.00 by Citigroup

Melco Resorts & Entertainment (NASDAQ:MLCO) has been assigned a $29.00 price objective by equities research analysts at Citigroup in a research report issued on Thursday, The Fly reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 70.19% from the stock’s current price.

A number of other research firms have also recently commented on MLCO. BidaskClub raised shares of Melco Resorts & Entertainment from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Sanford C. Bernstein reduced their price objective on shares of Melco Resorts & Entertainment from $34.50 to $27.00 and set an “outperform” rating for the company in a research report on Monday, September 17th. They noted that the move was a valuation call. UBS Group cut shares of Melco Resorts & Entertainment from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 12th. HSBC set a $33.00 price objective on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Tuesday, October 16th. Finally, TheStreet cut shares of Melco Resorts & Entertainment from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. Melco Resorts & Entertainment currently has an average rating of “Buy” and a consensus target price of $32.30.

NASDAQ:MLCO opened at $17.04 on Thursday. Melco Resorts & Entertainment has a 1-year low of $15.33 and a 1-year high of $32.95. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.97 and a quick ratio of 0.95. The firm has a market capitalization of $8.88 billion, a P/E ratio of 18.52, a PEG ratio of 1.29 and a beta of 1.64.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.18). Melco Resorts & Entertainment had a net margin of 5.98% and a return on equity of 11.89%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business posted $0.24 earnings per share. Melco Resorts & Entertainment’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Melco Resorts & Entertainment will post 1.07 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Melco Resorts & Entertainment by 1,935.3% in the second quarter. SG Americas Securities LLC now owns 431,244 shares of the company’s stock valued at $12,075,000 after acquiring an additional 410,056 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Melco Resorts & Entertainment in the second quarter valued at about $386,000. Seven Eight Capital LP raised its stake in Melco Resorts & Entertainment by 31.4% in the third quarter. Seven Eight Capital LP now owns 105,959 shares of the company’s stock valued at $2,241,000 after purchasing an additional 25,300 shares in the last quarter. Mount Yale Investment Advisors LLC raised its stake in Melco Resorts & Entertainment by 15.8% in the second quarter. Mount Yale Investment Advisors LLC now owns 86,224 shares of the company’s stock valued at $2,414,000 after purchasing an additional 11,759 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Melco Resorts & Entertainment in the second quarter valued at about $11,066,000. 36.24% of the stock is owned by institutional investors.

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.

See Also: Leveraged Buyout (LBO)

The Fly

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

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply