Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Receives Average Rating of “Buy” from Analysts

Share on StockTwits

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has received an average rating of “Buy” from the eighteen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $25.51.

Several analysts recently issued reports on MLCO shares. Zacks Investment Research cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday. ValuEngine cut shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. Nomura reissued a “buy” rating and issued a $15.00 price target on shares of Melco Resorts & Entertainment in a research note on Tuesday. BidaskClub cut shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Finally, 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.

Institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC purchased a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $219,643,000. Jane Street Group LLC grew its position in Melco Resorts & Entertainment by 201.8% during the 2nd quarter. Jane Street Group LLC now owns 229,479 shares of the company’s stock worth $4,984,000 after purchasing an additional 153,447 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Melco Resorts & Entertainment during the 2nd quarter worth $2,214,000. Cubist Systematic Strategies LLC grew its position in Melco Resorts & Entertainment by 28.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 34,574 shares of the company’s stock worth $751,000 after purchasing an additional 7,706 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Melco Resorts & Entertainment during the 2nd quarter worth $44,932,000. Institutional investors own 34.42% of the company’s stock.

NASDAQ MLCO traded up $0.10 during trading hours on Friday, hitting $19.13. 95,427 shares of the company’s stock traded hands, compared to its average volume of 2,078,148. Melco Resorts & Entertainment has a 52-week low of $15.33 and a 52-week high of $26.97. The company has a market cap of $9.41 billion, a P/E ratio of 21.54, a PEG ratio of 0.88 and a beta of 1.76. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 1.47. The company’s 50-day moving average is $22.69.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter in the prior year, the company earned $0.12 EPS. Melco Resorts & Entertainment’s revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts predict that Melco Resorts & Entertainment will post 1.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.1651 per share. The ex-dividend date is Friday, August 2nd. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. This represents a $0.66 dividend on an annualized basis and a yield of 3.45%. Melco Resorts & Entertainment’s dividend payout ratio is 73.03%.

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.

Read More: Depreciation

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

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.