Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Sunday.
MLCO has been the topic of a number of other research reports. Bank of America raised their price objective on Melco Resorts & Entertainment from $5.70 to $6.60 and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Morgan Stanley raised Melco Resorts & Entertainment from an "equal weight" rating to an "overweight" rating and dropped their price objective for the company from $7.50 to $6.70 in a research report on Monday, March 3rd. UBS Group downgraded Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective on the stock. in a research report on Wednesday, April 30th. Citigroup raised Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 price objective on the stock in a research report on Thursday, April 10th. Finally, JPMorgan Chase & Co. raised their price objective on Melco Resorts & Entertainment from $6.50 to $7.20 and gave the company a "neutral" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Melco Resorts & Entertainment has an average rating of "Hold" and a consensus price target of $6.73.
View Our Latest Stock Report on Melco Resorts & Entertainment
Melco Resorts & Entertainment Trading Up 2.0%
MLCO opened at $7.20 on Friday. Melco Resorts & Entertainment has a 12-month low of $4.55 and a 12-month high of $8.90. The business's fifty day simple moving average is $6.03 and its 200-day simple moving average is $5.75. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 51.43, a PEG ratio of 0.56 and a beta of 0.79.
Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.13. Melco Resorts & Entertainment had a negative return on equity of 12.58% and a net margin of 1.28%. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the company earned $0.04 EPS. The business's revenue was up 10.8% compared to the same quarter last year. On average, equities research analysts predict that Melco Resorts & Entertainment will post 0.16 EPS for the current year.
Institutional Investors Weigh In On Melco Resorts & Entertainment
Several institutional investors have recently added to or reduced their stakes in the business. ARGA Investment Management LP boosted its holdings in Melco Resorts & Entertainment by 0.4% in the first quarter. ARGA Investment Management LP now owns 29,760,953 shares of the company's stock worth $156,840,000 after acquiring an additional 108,529 shares in the last quarter. Eminence Capital LP boosted its holdings in Melco Resorts & Entertainment by 22.1% in the fourth quarter. Eminence Capital LP now owns 7,735,919 shares of the company's stock worth $44,791,000 after acquiring an additional 1,402,619 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Melco Resorts & Entertainment by 1.4% in the fourth quarter. Nuveen Asset Management LLC now owns 6,081,335 shares of the company's stock worth $35,211,000 after acquiring an additional 83,268 shares in the last quarter. Nuveen LLC acquired a new stake in Melco Resorts & Entertainment in the first quarter worth about $31,946,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Melco Resorts & Entertainment by 16.4% in the first quarter. Goldman Sachs Group Inc. now owns 6,015,200 shares of the company's stock worth $31,700,000 after acquiring an additional 846,504 shares in the last quarter. Institutional investors and hedge funds own 39.62% of the company's stock.
Melco Resorts & Entertainment Company Profile
(
Get Free Report)
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.
Further Reading
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