BidaskClub upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a sell rating to a hold rating in a research report report published on Friday morning, BidAskClub reports.

A number of other research firms have also weighed in on MLCO. Macquarie assumed coverage on shares of Melco Resorts & Entertainment in a research report on Monday, April 8th. They issued an outperform rating and a $25.10 price objective on the stock. Wolfe Research lowered shares of Melco Resorts & Entertainment from an outperform rating to a peer perform rating in a research report on Wednesday, May 8th. Nomura lifted their price objective on shares of Melco Resorts & Entertainment from $27.00 to $30.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Wednesday, March 13th. Finally, Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the company a buy rating in a research report on Tuesday, May 28th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $28.02.

Shares of MLCO opened at $21.41 on Friday. The business’s 50 day simple moving average is $20.78. Melco Resorts & Entertainment has a 12-month low of $15.33 and a 12-month high of $29.70. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.17 and a beta of 1.76.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Melco Resorts & Entertainment had a net margin of 6.00% and a return on equity of 13.47%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the firm posted $0.32 EPS. Melco Resorts & Entertainment’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, analysts expect that Melco Resorts & Entertainment will post 0.96 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Monday, May 20th were issued a $0.1551 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $0.62 dividend on an annualized basis and a yield of 2.90%. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is 68.54%.

Institutional investors have recently added to or reduced their stakes in the business. Maso Capital Partners Ltd acquired a new stake in Melco Resorts & Entertainment in the first quarter valued at $2,711,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH lifted its holdings in Melco Resorts & Entertainment by 7.4% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 174,000 shares of the company’s stock valued at $3,831,000 after acquiring an additional 12,000 shares during the period. Todd Asset Management LLC lifted its holdings in Melco Resorts & Entertainment by 2.7% in the first quarter. Todd Asset Management LLC now owns 850,683 shares of the company’s stock valued at $19,216,000 after acquiring an additional 22,671 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Melco Resorts & Entertainment by 3.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 320,908 shares of the company’s stock valued at $5,653,000 after acquiring an additional 11,278 shares during the period. Finally, Flowering Tree Investment Management Pte. Ltd. lifted its holdings in Melco Resorts & Entertainment by 7.1% in the fourth quarter. Flowering Tree Investment Management Pte. Ltd. now owns 3,475,123 shares of the company’s stock valued at $61,232,000 after acquiring an additional 229,320 shares during the period. 33.31% of the stock is owned by institutional investors.

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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