Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating) was updated by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, The Fly reports.
A number of other research firms also recently weighed in on MLCO. StockNews.com raised shares of Melco Resorts & Entertainment to a “sell” rating in a research note on Thursday, October 27th. Credit Suisse Group cut shares of Melco Resorts & Entertainment from an “outperform” rating to a “neutral” rating in a research note on Monday, October 17th. Finally, Citigroup boosted their target price on shares of Melco Resorts & Entertainment from $11.00 to $11.50 and gave the stock a “buy” rating in a research note on Monday, September 26th. . One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.25, based on data from MarketBeat.com.
Melco Resorts & Entertainment stocks fell 2.4%
Shares of Melco Resorts & Entertainment stock opened at $6.59 on Monday. The company has a market cap of $2.93 billion, a P/E ratio of -3.68 and a beta of 1.14. The company has a debt-to-equity ratio of 21.09, a quick ratio of 2.31, and a current ratio of 2.34. Melco Resorts & Entertainment has a one year low of $4.06 and a one year high of $11.81. The firm has a fifty day moving average of $6.46 and a two hundred day moving average of $5.82.
Melco Resorts & Entertainment (NASDAQ:MLCO – Get Rating ) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.52) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.04. The company had revenue of $241.84 million during the quarter, compared to the consensus estimate of $305.79 million. Melco Resorts & Entertainment had a negative net margin of 56.15% and a negative return on equity of 182.94%. On average, analysts expect that Melco Resorts & Entertainment will post -2.07 earnings per share for the current year.
Institutional investors weigh in on Melco Resorts & Entertainment
Major investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. raised its holdings in Melco Resorts & Entertainment by 0.3% in the third quarter. UBS Asset Management Americas Inc. now owns 524,503 shares of the company’s stock valued at $3,477,000 after buying an additional 1,730 shares during the last quarter. Chiron Capital Management LLC boosted its holdings in Melco Resorts & Entertainment by 3.6% in the third quarter. Chiron Capital Management LLC now owns 51,900 shares of the company’s stock valued at $344,000 after purchasing an additional 1,800 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in Melco Resorts & Entertainment by 1.4% in the first quarter. Great West Life Assurance Co. Can now owns 174,880 shares of the company’s stock valued at $1,408,000 after buying an additional 2,344 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in Melco Resorts & Entertainment by 6.0% in the third quarter. Integrated Investment Consultants LLC now owns 44,780 shares of the company’s stock valued at $297,000 after buying an additional 2,530 shares during the last quarter. Finally, McDonald Partners LLC boosted its holdings in Melco Resorts & Entertainment by 3.4% in the third quarter. McDonald Partners LLC now owns 81,680 shares of the company’s stock valued at $542,000 after purchasing an additional 2,670 shares during the last quarter. 35.87% of the shares are owned by institutional investors and hedge funds.
Melco Resorts & Entertainment Company Profile
(Get rating)
Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns and operates gaming and entertainment casino facilities in Asia. Owns and operates City of Dreams, an integrated casino complex that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet 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, spas and salons, and banquet and meeting rooms.
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