Melco Resorts & Entertainment (NASDAQ:MLCO) had its target price upped by UBS Group from $25.60 to $26.80 in a report issued on Friday, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on MLCO. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a hold rating to a buy rating and set a $22.00 price target on the stock in a research note on Wednesday, August 28th. Nomura reissued a buy rating and issued a $15.00 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday, August 13th. Goldman Sachs Group set a $27.00 price target on shares of Melco Resorts & Entertainment and gave the company a buy rating in a research note on Tuesday, May 28th. ValuEngine cut shares of Melco Resorts & Entertainment from a hold rating to a sell rating in a research note on Wednesday, September 11th. Finally, CLSA set a $26.00 price target on shares of Melco Resorts & Entertainment and gave the company a buy rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. Melco Resorts & Entertainment presently has a consensus rating of Buy and an average target price of $25.45.

Melco Resorts & Entertainment stock opened at $21.57 on Friday. The company’s fifty day moving average price is $20.82 and its 200 day moving average price is $22.35. Melco Resorts & Entertainment has a 1 year low of $15.33 and a 1 year high of $26.97. The stock has a market capitalization of $10.66 billion, a P/E ratio of 24.24, a P/E/G ratio of 0.88 and a beta of 1.86. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.80 and a current ratio of 0.82.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. Melco Resorts & Entertainment had a net margin of 6.55% and a return on equity of 14.53%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts predict that Melco Resorts & Entertainment will post 1.1 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its stake in Melco Resorts & Entertainment by 19.4% during the 1st quarter. Advisors Asset Management Inc. now owns 7,094 shares of the company’s stock worth $160,000 after purchasing an additional 1,153 shares during the last quarter. Natixis boosted its stake in Melco Resorts & Entertainment by 5.0% during the 2nd quarter. Natixis now owns 37,036 shares of the company’s stock worth $804,000 after purchasing an additional 1,768 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Melco Resorts & Entertainment by 4.3% during the 1st quarter. Private Advisor Group LLC now owns 49,289 shares of the company’s stock valued at $1,113,000 after acquiring an additional 2,019 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of Melco Resorts & Entertainment by 1.4% during the 1st quarter. Pictet Asset Management Ltd. now owns 154,000 shares of the company’s stock valued at $3,479,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Melco Resorts & Entertainment during the 2nd quarter valued at about $48,000. 35.69% 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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