A number of other brokerages also recently issued reports on MLCO. Nomura increased their price objective on Melco Resorts & Entertainment from $27.00 to $30.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded Hallmark Financial Services from a hold rating to a buy rating and set a $16.00 price objective on the stock in a research report on Friday. Goldman Sachs Group set a $27.00 price objective on Melco Resorts & Entertainment and gave the stock a buy rating in a research report on Tuesday, May 28th. Wolfe Research downgraded Walmart from a peer perform rating to an underperform rating in a research report on Wednesday, May 8th. Finally, BidaskClub downgraded Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $28.12.
NASDAQ:MLCO opened at $24.42 on Friday. The stock has a market capitalization of $12.07 billion, a P/E ratio of 27.44, a P/E/G ratio of 1.25 and a beta of 1.77. The stock’s fifty day moving average is $21.71. Melco Resorts & Entertainment has a 1 year low of $15.33 and a 1 year high of $26.97. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 1.51.
Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Melco Resorts & Entertainment had a return on equity of 13.47% and a net margin of 6.00%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. Equities analysts forecast that Melco Resorts & Entertainment will post 0.95 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maso Capital Partners Ltd bought a new position in Melco Resorts & Entertainment in the first quarter valued at $2,711,000. MetLife Investment Advisors LLC increased its stake in Melco Resorts & Entertainment by 18.7% in the first quarter. MetLife Investment Advisors LLC now owns 23,500 shares of the company’s stock valued at $531,000 after acquiring an additional 3,700 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in Melco Resorts & Entertainment by 7.4% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 174,000 shares of the company’s stock valued at $3,831,000 after acquiring an additional 12,000 shares during the last quarter. Todd Asset Management LLC increased its stake in Melco Resorts & Entertainment by 2.7% in the first quarter. Todd Asset Management LLC now owns 850,683 shares of the company’s stock valued at $19,216,000 after acquiring an additional 22,671 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Melco Resorts & Entertainment by 261.1% in the fourth quarter. Advisor Group Inc. now owns 33,323 shares of the company’s stock valued at $588,000 after acquiring an additional 24,095 shares during the last quarter. 33.31% of the stock is currently owned by institutional investors and hedge funds.
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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