ValuEngine upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a strong sell rating to a sell rating in a research report report published on Friday.

MLCO has been the topic of a number of other research reports. HSBC set a $33.00 target price on shares of Melco Resorts & Entertainment and gave the company a buy rating in a research note on Tuesday, October 16th. BidaskClub upgraded shares of Melco Resorts & Entertainment from a strong sell rating to a sell rating in a research note on Wednesday, August 22nd. Bank of America restated a buy rating and set a $35.10 target price (up previously from $34.40) on shares of Melco Resorts & Entertainment in a research note on Tuesday, July 24th. TheStreet cut shares of Melco Resorts & Entertainment from a b- rating to a c+ rating in a research note on Tuesday, October 30th. Finally, UBS Group downgraded shares of Melco Resorts & Entertainment from a buy rating to a neutral rating in a report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. Melco Resorts & Entertainment presently has a consensus rating of Buy and an average target price of $32.73.

MLCO opened at $16.34 on Friday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.95 and a current ratio of 0.97. Melco Resorts & Entertainment has a fifty-two week low of $15.33 and a fifty-two week high of $32.95. The firm has a market cap of $8.36 billion, a P/E ratio of 17.76, a PEG ratio of 1.22 and a beta of 1.64.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Thursday, November 8th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.18). Melco Resorts & Entertainment had a net margin of 5.98% and a return on equity of 11.89%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm posted $0.24 EPS. The firm’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, equities analysts expect that Melco Resorts & Entertainment will post 1.07 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 29th. Shareholders of record on Monday, November 19th will be issued a $0.1451 dividend. This is an increase from Melco Resorts & Entertainment’s previous quarterly dividend of $0.15. This represents a $0.58 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Friday, November 16th. Melco Resorts & Entertainment’s payout ratio is currently 61.96%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB bought a new stake in Melco Resorts & Entertainment in the 3rd quarter valued at $1,157,000. AQR Capital Management LLC increased its holdings in shares of Melco Resorts & Entertainment by 329.2% in the 3rd quarter. AQR Capital Management LLC now owns 33,598 shares of the company’s stock worth $711,000 after buying an additional 25,770 shares during the last quarter. Castleark Management LLC increased its holdings in shares of Melco Resorts & Entertainment by 100.0% in the 3rd quarter. Castleark Management LLC now owns 38,080 shares of the company’s stock worth $805,000 after buying an additional 19,040 shares during the last quarter. Capital World Investors increased its holdings in shares of Melco Resorts & Entertainment by 7.7% in the 3rd quarter. Capital World Investors now owns 15,327,427 shares of the company’s stock worth $324,175,000 after buying an additional 1,094,334 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Melco Resorts & Entertainment by 89.2% in the 3rd quarter. Capital Research Global Investors now owns 33,785,801 shares of the company’s stock worth $714,570,000 after buying an additional 15,930,285 shares during the last quarter. Institutional investors own 38.26% 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.

Featured Story: How do investors use RSI to grade stocks?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.