Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Average Rating of “Buy” from Brokerages

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have received a consensus recommendation of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and eleven have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $24.74.

MLCO has been the subject of several recent analyst reports. BidaskClub downgraded Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, November 2nd. CLSA set a $26.00 price target on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research note on Friday, September 6th. ValuEngine downgraded Melco Resorts & Entertainment from a “sell” rating to a “strong sell” rating in a research note on Friday, November 8th. UBS Group increased their target price on Melco Resorts & Entertainment from $25.60 to $26.80 and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, Zacks Investment Research downgraded Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas raised its holdings in Melco Resorts & Entertainment by 52.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 15,101 shares of the company’s stock valued at $328,000 after buying an additional 5,216 shares during the period. Janus Henderson Group PLC raised its holdings in Melco Resorts & Entertainment by 72.9% during the 2nd quarter. Janus Henderson Group PLC now owns 287,194 shares of the company’s stock valued at $6,238,000 after buying an additional 121,052 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Melco Resorts & Entertainment by 7.5% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,400 shares of the company’s stock valued at $415,000 after buying an additional 1,500 shares during the period. Tower Research Capital LLC TRC raised its holdings in Melco Resorts & Entertainment by 2,725.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,882 shares of the company’s stock valued at $62,000 after buying an additional 2,780 shares during the period. Finally, Private Trust Co. NA raised its holdings in Melco Resorts & Entertainment by 11.3% during the 3rd quarter. Private Trust Co. NA now owns 10,651 shares of the company’s stock valued at $206,000 after buying an additional 1,081 shares during the period. Hedge funds and other institutional investors own 35.74% of the company’s stock.

MLCO stock opened at $21.86 on Monday. Melco Resorts & Entertainment has a 1-year low of $15.40 and a 1-year high of $26.97. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.89 and a quick ratio of 0.88. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 0.97 and a beta of 1.85. The business has a 50 day simple moving average of $20.88 and a two-hundred day simple moving average of $21.47.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). Melco Resorts & Entertainment had a return on equity of 17.61% and a net margin of 7.60%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts anticipate that Melco Resorts & Entertainment will post 1.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.165 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.02%. Melco Resorts & Entertainment’s dividend payout ratio is currently 73.03%.

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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