BidaskClub Upgrades Melco Resorts & Entertainment (NASDAQ:MLCO) to “Hold”

Melco Resorts & Entertainment (NASDAQ:MLCO) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday, June 21st, BidAskClub reports.

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

NASDAQ:MLCO traded down $0.10 on Friday, hitting $23.75. 784,541 shares of the stock were exchanged, compared to its average volume of 1,546,579. The stock has a market capitalization of $11.79 billion, a PE ratio of 26.69, a PEG ratio of 1.22 and a beta of 1.77. 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 business has a fifty day moving average of $21.20. Melco Resorts & Entertainment has a fifty-two week low of $15.33 and a fifty-two week high of $26.97.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly 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. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.34 billion. Melco Resorts & Entertainment had a return on equity of 13.47% and a net margin of 6.00%. The firm’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Research analysts expect that Melco Resorts & Entertainment will post 0.95 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Perpetual Ltd raised its position in shares of Melco Resorts & Entertainment by 145.0% during the 4th quarter. Perpetual Ltd now owns 1,961,069 shares of the company’s stock worth $34,358,000 after purchasing an additional 1,160,773 shares during the period. Hexavest Inc. acquired a new stake in shares of Melco Resorts & Entertainment during the 1st quarter worth approximately $12,863,000. Legal & General Group Plc raised its position in shares of Melco Resorts & Entertainment by 284.4% during the 4th quarter. Legal & General Group Plc now owns 720,559 shares of the company’s stock worth $12,689,000 after purchasing an additional 533,094 shares during the period. Hardman Johnston Global Advisors LLC raised its position in shares of Melco Resorts & Entertainment by 3.6% during the 1st quarter. Hardman Johnston Global Advisors LLC now owns 11,143,247 shares of the company’s stock worth $251,726,000 after purchasing an additional 383,562 shares during the period. Finally, State of Wisconsin Investment Board raised its position in shares of Melco Resorts & Entertainment by 148.5% during the 1st quarter. State of Wisconsin Investment Board now owns 462,452 shares of the company’s stock worth $10,447,000 after purchasing an additional 276,352 shares during the period. 33.31% of the stock is currently 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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