Melco Resorts & Entertainment ( MLCO ) saw an improvement in its IBD SmartSelect Composite Rating Tuesday, from 94 to 96.
[ibd-display-video id=2354661 width=50 float=left autostart=true] The new rating shows the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. The best stocks tend to have a 95 or better grade as they launch a significant move.
Melco Resorts is currently about 2% above a 23.35 entry from a cup with handle .
See How IBD Helps You Make More Money In Stocks
One weak spot is the company’s 76 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it’s in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
The company reported a 220% earnings-per-share gain for Q2. That means it’s now posted eight straight quarters of rising EPS growth. Revenue growth increased 21%, up from 16% in the prior report. That marks two quarters of increasing revenue gains. The company’s next quarterly report is expected on or around Nov. 3.
Melco Resorts holds the No. 2 rank among its peers in the Leisure-Gaming/Equipment industry group. Monarch Casino & Resort ( MCRI ) is the top-ranked stock within the group.
Which Companies Are Now Outperforming 95% Of All Stocks?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.