Melco Resorts & Entertainment (NASDAQ:MLCO) Price Target Increased to $26.80 by Analysts at UBS Group

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Melco Resorts & Entertainment (NASDAQ:MLCO) had its price objective increased by UBS Group from $25.60 to $26.80 in a research report sent to investors on Friday morning, BenzingaRatingsTable reports. UBS Group currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Nomura reiterated a buy rating and issued a $15.00 price target on shares of Melco Resorts & Entertainment in a research report on Tuesday, August 13th. ValuEngine lowered Melco Resorts & Entertainment from a hold rating to a sell rating in a research report on Wednesday, September 11th. BidaskClub lowered Melco Resorts & Entertainment from a hold rating to a sell rating in a research report on Saturday, August 10th. Goldman Sachs Group set a $27.00 price target on Melco Resorts & Entertainment and gave the company a buy rating in a research report on Tuesday, May 28th. Finally, CLSA set a $26.00 price target on Melco Resorts & Entertainment and gave the company a buy rating in a research report on Friday, September 6th. Two research analysts have rated the stock with a sell rating and fourteen have assigned a buy rating to the company. Melco Resorts & Entertainment currently has an average rating of Buy and a consensus price target of $25.45.

Shares of MLCO stock opened at $21.69 on Friday. The stock has a 50-day simple moving average of $20.97 and a 200 day simple moving average of $22.37. Melco Resorts & Entertainment has a fifty-two week low of $15.33 and a fifty-two week high of $26.97. The stock has a market capitalization of $10.52 billion, a P/E ratio of 24.37, a P/E/G ratio of 0.88 and a beta of 1.86. The company has a quick ratio of 0.80, a current ratio of 0.82 and a debt-to-equity ratio of 1.47.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Melco Resorts & Entertainment had a return on equity of 14.53% and a net margin of 6.55%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the business posted $0.12 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts anticipate that Melco Resorts & Entertainment will post 1.1 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in MLCO. Nuveen Asset Management LLC acquired a new stake in Melco Resorts & Entertainment during the 2nd quarter worth about $219,643,000. Matthews International Capital Management LLC boosted its position in Melco Resorts & Entertainment by 2,521.3% during the 2nd quarter. Matthews International Capital Management LLC now owns 3,520,700 shares of the company’s stock worth $76,470,000 after acquiring an additional 3,386,387 shares during the period. Point72 Asset Management L.P. acquired a new stake in Melco Resorts & Entertainment during the 2nd quarter worth about $44,932,000. Mackenzie Financial Corp acquired a new stake in Melco Resorts & Entertainment during the 2nd quarter worth about $28,726,000. Finally, Broad Peak Investment Management LTD. boosted its position in Melco Resorts & Entertainment by 48.1% during the 2nd quarter. Broad Peak Investment Management LTD. now owns 3,978,814 shares of the company’s stock worth $86,420,000 after acquiring an additional 1,292,958 shares during the period. Hedge funds and other institutional investors own 35.69% 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.

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

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