Melco Resorts & Entertainment (NASDAQ:MLCO) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a sell rating to a hold rating in a research note released on Tuesday morning, ValuEngine reports.

Several other research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Melco Resorts & Entertainment from a hold rating to a sell rating in a research report on Friday, January 17th. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a strong-buy rating to a hold rating in a report on Thursday, January 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $24.49.

Shares of MLCO traded down $0.43 during mid-day trading on Tuesday, hitting $20.78. 336,690 shares of the company were exchanged, compared to its average volume of 1,675,305. Melco Resorts & Entertainment has a 1-year low of $18.68 and a 1-year high of $26.97. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 0.89. The company has a 50 day moving average of $23.58 and a 200-day moving average of $21.96. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 0.90 and a beta of 1.88.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, missing the 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 company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts anticipate that Melco Resorts & Entertainment will post 1.14 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the business. Pictet Asset Management Ltd. grew its stake in shares of Melco Resorts & Entertainment by 0.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 130,500 shares of the company’s stock valued at $2,533,000 after buying an additional 700 shares during the period. Private Trust Co. NA grew its stake in shares of Melco Resorts & Entertainment by 11.3% in 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. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Melco Resorts & Entertainment by 7.5% in 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. Carroll Financial Associates Inc. purchased a new stake in shares of Melco Resorts & Entertainment in the 4th quarter valued at approximately $36,000. Finally, Natixis grew its stake in shares of Melco Resorts & Entertainment by 5.0% in the 2nd quarter. Natixis now owns 37,036 shares of the company’s stock valued at $804,000 after buying an additional 1,768 shares during the period. Institutional investors own 35.32% 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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