Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target Raised to $26.80

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

MLCO has been the topic of a number of other reports. Nomura restated a buy rating and set a $15.00 target price on shares of Melco Resorts & Entertainment in a research note on Tuesday, August 13th. CLSA set a $26.00 target price on shares of Melco Resorts & Entertainment and gave the stock a buy rating in a research note on Friday, September 6th. BidaskClub lowered shares of Melco Resorts & Entertainment from a hold rating to a sell rating in a research note on Saturday, August 10th. ValuEngine lowered shares of Melco Resorts & Entertainment from a hold rating to a sell rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Melco Resorts & Entertainment from $29.00 to $25.00 and set an overweight rating on the stock in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $25.45.

MLCO stock opened at $21.57 on Friday. The company’s 50 day moving average price is $20.82 and its 200 day moving average price is $22.35. 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 has a fifty-two week low of $15.33 and a fifty-two week high of $26.97. The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 0.88 and a beta of 1.86.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts forecast that Melco Resorts & Entertainment will post 1.1 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Natixis boosted its holdings in Melco Resorts & Entertainment by 5.0% in the second quarter. Natixis now owns 37,036 shares of the company’s stock valued at $804,000 after purchasing an additional 1,768 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Melco Resorts & Entertainment in the second quarter valued at approximately $9,266,000. Verition Fund Management LLC boosted its holdings in Melco Resorts & Entertainment by 10.3% in the second quarter. Verition Fund Management LLC now owns 52,653 shares of the company’s stock valued at $1,144,000 after purchasing an additional 4,936 shares in the last quarter. York Capital Management Global Advisors LLC acquired a new position in Melco Resorts & Entertainment in the second quarter valued at approximately $17,551,000. Finally, Nuveen Asset Management LLC acquired a new position in Melco Resorts & Entertainment in the second quarter valued at approximately $219,643,000. 35.69% of the stock is owned by hedge funds and other 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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