Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) have been assigned a consensus recommendation of “Buy” from the eighteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $28.03.

Several research analysts recently issued reports on MLCO shares. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. CLSA upgraded shares of Melco Resorts & Entertainment from a “sell” rating to an “underperform” rating in a research report on Thursday, January 3rd. BidaskClub upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Friday, January 11th. Daiwa Capital Markets started coverage on shares of Melco Resorts & Entertainment in a research report on Wednesday, January 23rd. They issued an “outperform” rating for the company. Finally, China Renaissance Securities upgraded shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th.

Shares of NASDAQ:MLCO opened at $25.20 on Friday. Melco Resorts & Entertainment has a 52-week low of $15.33 and a 52-week high of $32.95. The firm has a market capitalization of $12.30 billion, a P/E ratio of 28.31, a P/E/G ratio of 1.40 and a beta of 1.62. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 1.43.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its earnings results on Tuesday, February 19th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.04. Melco Resorts & Entertainment had a net margin of 6.81% and a return on equity of 13.92%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the business earned $0.17 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Melco Resorts & Entertainment will post 0.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, March 4th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.46%. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. The ex-dividend date was Friday, March 1st. Melco Resorts & Entertainment’s dividend payout ratio is presently 68.54%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ayalon Holdings Ltd. purchased a new stake in Melco Resorts & Entertainment during the fourth quarter valued at about $58,000. Advisors Asset Management Inc. raised its stake in shares of Melco Resorts & Entertainment by 60.6% during the fourth quarter. Advisors Asset Management Inc. now owns 5,941 shares of the company’s stock valued at $105,000 after acquiring an additional 2,242 shares during the last quarter. Executive Wealth Management LLC bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $131,000. Almanack Investment Partners LLC. bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $130,000. Finally, Private Trust Co. NA bought a new position in shares of Melco Resorts & Entertainment during the fourth quarter valued at about $176,000. Institutional investors and hedge funds own 32.97% 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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