Melco Resorts & Entertainment (MLCO) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Melco Resorts & Entertainment Ltd is a developer, owner and operator of casino gaming and entertainment casino resort facilities primarily in Asia. Melco Resorts & Entertainment Ltd, formerly known as Melco Crown Entertainment Limited, is based in Hong Kong. “

Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Melco Resorts & Entertainment from a c+ rating to a b rating in a report on Tuesday, November 21st. Nomura raised their target price on shares of Melco Resorts & Entertainment from $29.00 to $33.00 and gave the stock a buy rating in a report on Friday, November 3rd. Roth Capital started coverage on shares of Melco Resorts & Entertainment in a report on Wednesday, November 1st. They issued a buy rating and a $34.00 target price on the stock. BidaskClub upgraded shares of Melco Resorts & Entertainment from a hold rating to a buy rating in a report on Thursday, December 21st. Finally, Daiwa Capital Markets upgraded shares of Melco Resorts & Entertainment from a hold rating to a buy rating and set a $32.00 target price on the stock in a report on Thursday, November 30th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $27.37.

Melco Resorts & Entertainment (NASDAQ MLCO) opened at $28.14 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.10 and a debt-to-equity ratio of 1.13. Melco Resorts & Entertainment has a fifty-two week low of $16.00 and a fifty-two week high of $30.49. The stock has a market cap of $13,540.00, a P/E ratio of 40.20, a PEG ratio of 2.11 and a beta of 1.71.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Thursday, February 8th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.03). Melco Resorts & Entertainment had a return on equity of 13.83% and a net margin of 6.47%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.36 billion. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. research analysts forecast that Melco Resorts & Entertainment will post 1.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 7th. Investors of record on Tuesday, February 20th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $0.54 annualized dividend and a yield of 1.92%. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. Melco Resorts & Entertainment’s payout ratio is 50.00%.

Large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board bought a new stake in Melco Resorts & Entertainment in the third quarter valued at $112,000. LS Investment Advisors LLC bought a new stake in Melco Resorts & Entertainment in the third quarter valued at $129,000. Nordea Investment Management AB bought a new stake in Melco Resorts & Entertainment in the third quarter valued at $136,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in Melco Resorts & Entertainment in the third quarter valued at $173,000. Finally, Delpha Capital Management LLC bought a new stake in Melco Resorts & Entertainment in the fourth quarter valued at $183,000. Institutional investors and hedge funds own 40.61% of the company’s stock.

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About Melco Resorts & Entertainment

Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

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