J P Morgan Chase & Co upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a neutral rating to an overweight rating in a research report report published on Tuesday. J P Morgan Chase & Co currently has $32.00 target price on the stock.

A number of other equities research analysts have also recently weighed in on the company. Daiwa Capital Markets raised Melco Resorts & Entertainment from a hold rating to a buy rating and set a $32.00 price target on the stock in a report on Thursday, November 30th. Nomura lifted their price target on Melco Resorts & Entertainment from $29.00 to $33.00 and gave the company a buy rating in a report on Friday, November 3rd. Zacks Investment Research raised Melco Resorts & Entertainment from a hold rating to a buy rating and set a $28.00 price target on the stock in a report on Thursday, November 9th. Instinet raised Melco Resorts & Entertainment from a neutral rating to a buy rating and lifted their price target for the company from $20.00 to $29.00 in a report on Tuesday, September 19th. Finally, Roth Capital started coverage on Melco Resorts & Entertainment in a report on Wednesday, November 1st. They set a buy rating and a $34.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Melco Resorts & Entertainment has an average rating of Buy and a consensus price target of $25.78.

Melco Resorts & Entertainment (NASDAQ:MLCO) traded up $0.78 on Tuesday, hitting $28.24. The stock had a trading volume of 3,433,200 shares, compared to its average volume of 3,662,476. The company has a market capitalization of $13,980.00, a PE ratio of 32.69, a PEG ratio of 1.05 and a beta of 1.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.07 and a current ratio of 1.08. Melco Resorts & Entertainment has a 52 week low of $14.89 and a 52 week high of $28.74.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Tuesday, November 14th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date was Monday, November 13th. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.03. Melco Resorts & Entertainment’s dividend payout ratio (DPR) is currently 55.56%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. acquired a new position in shares of Melco Resorts & Entertainment during the third quarter valued at approximately $90,957,000. Nicholas Investment Partners LP acquired a new position in Melco Resorts & Entertainment in the third quarter worth approximately $84,420,000. Mckinley Capital Management LLC Delaware acquired a new position in Melco Resorts & Entertainment in the third quarter worth approximately $70,699,000. Janus Henderson Group PLC acquired a new position in Melco Resorts & Entertainment in the third quarter worth approximately $70,242,000. Finally, Russell Investments Group Ltd. acquired a new position in Melco Resorts & Entertainment in the third quarter worth approximately $61,384,000. Institutional investors and hedge funds own 41.31% of the company’s stock.

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About Melco Resorts & Entertainment

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.

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

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