Melco Resorts & Entertainment (NASDAQ:MLCO) Upgraded to “Buy” by BidaskClub

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BidaskClub upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a hold rating to a buy rating in a research report sent to investors on Thursday, BidAskClub reports.

Several other equities research analysts have also issued reports on the company. Goldman Sachs Group set a $27.00 price target on Melco Resorts & Entertainment and gave the stock a buy rating in a research note on Tuesday, May 28th. Zacks Investment Research raised Jack Henry & Associates from a sell rating to a hold rating in a research note on Wednesday, March 27th. Wolfe Research lowered Walmart from a peer perform rating to an underperform rating in a research note on Wednesday, May 8th. Nomura lifted their price target on Melco Resorts & Entertainment from $27.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, May 8th. Finally, Macquarie initiated coverage on Wynn Macau in a research note on Monday, April 8th. They set an outperform rating for the company. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $28.02.

Melco Resorts & Entertainment stock traded down $0.12 during midday trading on Thursday, hitting $23.73. 25,937 shares of the company’s stock were exchanged, compared to its average volume of 1,578,195. Melco Resorts & Entertainment has a 52-week low of $15.33 and a 52-week high of $26.97. The stock’s 50-day moving average price is $21.14. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.05. The firm has a market capitalization of $11.66 billion, a P/E ratio of 26.75, a P/E/G ratio of 1.21 and a beta of 1.77.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Melco Resorts & Entertainment had a return on equity of 13.47% and a net margin of 6.00%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue was up 3.7% on a year-over-year basis. As a group, research analysts expect that Melco Resorts & Entertainment will post 0.95 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MLCO. Quadrant Capital Group LLC lifted its stake in shares of Melco Resorts & Entertainment by 123.4% in the 1st quarter. Quadrant Capital Group LLC now owns 5,310 shares of the company’s stock valued at $116,000 after acquiring an additional 2,933 shares during the last quarter. Gulf International Bank UK Ltd lifted its stake in shares of 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 valued at $123,000 after acquiring an additional 700 shares during the last quarter. Executive Wealth Management LLC bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $131,000. Advisors Asset Management Inc. lifted its stake in shares of Melco Resorts & Entertainment by 19.4% in the 1st quarter. Advisors Asset Management Inc. now owns 7,094 shares of the company’s stock valued at $160,000 after acquiring an additional 1,153 shares during the last quarter. Finally, LMR Partners LLP bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at about $249,000. 33.31% of the stock is owned by institutional investors.

About Melco Resorts & Entertainment

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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