Melco Resorts & Entertainment (NASDAQ:MLCO) Stock Rating Upgraded by Wall Street Zen

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Monday.

A number of other brokerages have also recently weighed in on MLCO. Citigroup upgraded Melco Resorts & Entertainment from a "neutral" rating to a "buy" rating and set a $6.25 target price on the stock in a report on Thursday, April 10th. 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. JPMorgan Chase & Co. raised Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $7.20 to $9.50 in a research report on Tuesday, July 1st. Finally, UBS Group lowered Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 target price on the stock. in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.90.

Melco Resorts & Entertainment Price Performance

NASDAQ:MLCO traded down $0.03 during trading hours on Monday, reaching $8.81. 5,962,631 shares of the company traded hands, compared to its average volume of 3,888,756. Melco Resorts & Entertainment has a 1-year low of $4.55 and a 1-year high of $8.91. The firm's 50-day moving average is $6.64 and its 200-day moving average is $5.88. The stock has a market cap of $3.70 billion, a P/E ratio of 62.93, a P/E/G ratio of 0.68 and a beta of 0.82.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $1.21 billion. During the same quarter last year, the firm earned $0.04 earnings per share. The business's revenue was up 10.8% on a year-over-year basis. As a group, research analysts predict that Melco Resorts & Entertainment will post 0.16 earnings per share for the current year.

Institutional Trading of Melco Resorts & Entertainment

Large investors have recently made changes to their positions 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 valued at $156,840,000 after acquiring an additional 108,529 shares during 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 valued at $44,791,000 after acquiring an additional 1,402,619 shares during 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 valued at $35,211,000 after acquiring an additional 83,268 shares during the last quarter. Nuveen LLC bought a new position in Melco Resorts & Entertainment in the first quarter valued at 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 valued at $31,700,000 after acquiring an additional 846,504 shares during the last quarter. Institutional investors own 39.62% of the company's stock.

About Melco Resorts & Entertainment

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.