Melco Resorts & Entertainment Limited (NASDAQ: MLCO) given analyst consensus “Buy” rating

Melco Resorts & Entertainment Limited (NASDAQ: MLCO) received an average “Buy” rating from the nine research companies that currently cover the stock, reports MarketBeat. One research analyst rated the stock with a sell recommendation, two assigned a keep recommendation, and five assigned a buy recommendation to the company. The one-year average price target among brokers who issued ratings on the stock in the past year is $ 14.88.

MLCO has been the subject of several analyst reports. JPMorgan Chase & Co. downgraded Melco Resorts & Entertainment’s stock rating from “overweight” to “neutral” and set a target price of $ 10.00 for the company. in a research report on Thursday, September 16. Citigroup lowered its price target for shares of Melco Resorts & Entertainment from $ 24.50 to $ 14.50 and set a “buy” rating for the company in a research report released on Tuesday, September 28. Morgan Stanley downgraded shares of Melco Resorts & Entertainment from an ‘equal weight’ rating to an ‘overweight’ rating and set a target price of $ 13.00 for the company in a research report on Monday the 13th. December. Finally, Credit Suisse Group upgraded shares of Melco Resorts & Entertainment from an “underperforming” rating to an “outperforming” rating in a research report published on Wednesday 24 November.

NASDAQ: MLCO shares opened at $ 10.18 on Friday. Melco Resorts & Entertainment has a 12-month low of $ 8.87 and a 12-month high of $ 23.65. The company has a quick ratio of 1.70, a current ratio of 1.74, and a debt ratio of 6.24. The company’s fifty-day simple moving average is $ 10.59 and its 200-day simple moving average is $ 12.62. The company has a market cap of $ 4.86 billion, a price-to-earnings ratio of -5.69 and a beta of 1.83.

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Melco Resorts & Entertainment (NASDAQ: MLCO) last released its quarterly earnings data on Tuesday, November 9. The company reported ($ 0.43) EPS for the quarter, missing analyst consensus estimates of ($ 0.38) by ($ 0.05). Melco Resorts & Entertainment recorded a negative return on equity of 53.40% and a negative net margin of 41.34%. The company posted revenue of $ 446.40 million for the quarter, compared to analysts’ estimates of $ 508.65 million. In the same quarter of the previous year, the company achieved earnings per share ($ 0.66). The company’s revenue increased 109.7% year-over-year. Research analysts expect Melco Resorts & Entertainment to post earnings per share of -1.07 for the current fiscal year.

A number of institutional investors have recently changed their holdings in the company. DekaBank Deutsche Girozentrale increased its stake in Melco Resorts & Entertainment by 3.7% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 21,140 shares of the company valued at $ 341,000 after acquiring 761 additional shares during the period. CIBC Asset Management Inc. increased its holdings in Melco Resorts & Entertainment by 4.7% in the third quarter. CIBC Asset Management Inc. now owns 22,255 shares of the company valued at $ 228,000 after acquiring an additional 989 shares during the period. First Quadrant LP CA increased its stake in the shares of Melco Resorts & Entertainment by 11.8% in the 3rd quarter. First Quadrant LP CA now owns 9,500 shares of the company valued at $ 97,000 after purchasing an additional 1,000 shares during the period. Capital International Sarl increased its stake in the shares of Melco Resorts & Entertainment by 7.2% in the 2nd quarter. Capital International Sarl now owns 15,549 shares of the company valued at $ 258,000 after purchasing an additional 1,045 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in the shares of Melco Resorts & Entertainment by 124.2% in the second quarter. Quadrant Capital Group LLC now owns 1,888 shares of the company valued at $ 31,000 after purchasing an additional 1,046 shares during the period. Hedge funds and other institutional investors hold 38.83% of the company’s shares.

Melco Resorts & Entertainment Company Profile

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates casino resort and entertainment facilities in Asia. It owns and operates City of Dreams, an integrated casino complex with 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a performance hall on a wet stage with around 2,000 seats; around 30 restaurants and bars and 150 retail outlets; and leisure and recreation facilities, including health and fitness clubs, swimming pools, spas and lounges, as well as banquet and meeting rooms.

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

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