Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has been given an average recommendation of “Buy” by the eighteen ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $25.51.
A number of brokerages have commented on MLCO. ValuEngine cut Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. Nomura restated a “buy” rating and issued a $15.00 price target on shares of Melco Resorts & Entertainment in a research report on Tuesday. Goldman Sachs Group set a $27.00 price target on Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Tuesday, May 28th. BidaskClub cut Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Finally, Wolfe Research cut Melco Resorts & Entertainment from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 8th.
Several large investors have recently added to or reduced their stakes in MLCO. Harvest Fund Management Co. Ltd purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth approximately $9,266,000. Verition Fund Management LLC raised its holdings in shares of Melco Resorts & Entertainment by 10.3% in the second quarter. Verition Fund Management LLC now owns 52,653 shares of the company’s stock worth $1,144,000 after buying an additional 4,936 shares during the period. York Capital Management Global Advisors LLC purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth approximately $17,551,000. Nuveen Asset Management LLC purchased a new stake in shares of Melco Resorts & Entertainment in the second quarter worth approximately $219,643,000. Finally, Jane Street Group LLC raised its holdings in shares of Melco Resorts & Entertainment by 201.8% in the second quarter. Jane Street Group LLC now owns 229,479 shares of the company’s stock worth $4,984,000 after buying an additional 153,447 shares during the period. Hedge funds and other institutional investors own 34.42% of the company’s stock.
Melco Resorts & Entertainment stock traded up $0.81 during mid-day trading on Friday, reaching $20.04. 1,893,700 shares of the stock traded hands, compared to its average volume of 2,295,584. The stock has a market capitalization of $9.41 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 0.84 and a beta of 1.76. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.82 and a quick ratio of 0.80. Melco Resorts & Entertainment has a 12-month low of $15.33 and a 12-month high of $26.97. The business’s 50-day moving average is $22.61 and its 200-day moving average is $22.59.
Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Melco Resorts & Entertainment had a return on equity of 14.53% and a net margin of 6.55%. The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 earnings per share. Equities analysts anticipate that Melco Resorts & Entertainment will post 1.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, August 5th were given a dividend of $0.1651 per share. The ex-dividend date was Friday, August 2nd. This represents a $0.66 annualized dividend and a dividend yield of 3.30%. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is currently 73.03%.
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.
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