Melco Resorts & Entertainment (MLCO) Upgraded to “Hold” by Zacks Investment Research

Melco Resorts & Entertainment (NASDAQ:MLCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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. “

A number of other analysts also recently weighed in on the company. Goldman Sachs Group upgraded Melco Resorts & Entertainment from a “neutral” rating to a “buy” rating in a report on Sunday, February 4th. BidaskClub downgraded Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. upgraded Melco Resorts & Entertainment from a “neutral” rating to an “overweight” rating and set a $32.00 target price for the company in a research note on Tuesday, December 19th. Daiwa Capital Markets upgraded Melco Resorts & Entertainment from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Thursday, November 30th. Finally, TheStreet upgraded Melco Resorts & Entertainment from a “c+” rating to a “b” rating in a research note on Tuesday, November 21st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $27.03.

Shares of Melco Resorts & Entertainment (NASDAQ MLCO) opened at $27.11 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.07 and a debt-to-equity ratio of 1.13. Melco Resorts & Entertainment has a 1-year low of $16.00 and a 1-year high of $30.49. The firm has a market capitalization of $13,194.77, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.96 and a beta of 1.72.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.20 earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.36 billion. The company’s quarterly revenue was up 11.7% on a year-over-year basis. sell-side analysts predict that Melco Resorts & Entertainment will post 1.14 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board acquired a new position in Melco Resorts & Entertainment during the 3rd quarter valued at about $112,000. LS Investment Advisors LLC acquired a new position in Melco Resorts & Entertainment during the 3rd quarter valued at about $129,000. Nordea Investment Management AB acquired a new position in Melco Resorts & Entertainment during the 3rd quarter valued at about $136,000. Ladenburg Thalmann Financial Services Inc. acquired a new position in Melco Resorts & Entertainment during the 3rd quarter valued at about $173,000. Finally, Delpha Capital Management LLC acquired a new position in Melco Resorts & Entertainment during the 4th quarter valued at about $183,000. Institutional investors own 40.61% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Melco Resorts & Entertainment (MLCO) Upgraded to “Hold” by Zacks Investment Research” was published by American Banking News and is owned by of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/14/melco-resorts-entertainment-mlco-upgraded-to-hold-by-zacks-investment-research.html.

Melco Resorts & Entertainment Company Profile

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.

Get a free copy of the Zacks research report on Melco Resorts & Entertainment (MLCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Melco Resorts & Entertainment (NASDAQ:MLCO)

Receive News & Ratings for Melco Resorts & Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Resorts & Entertainment and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply