Melco Resorts & Entertainment (MLCO) Stock Rating Lowered by BidaskClub

Melco Resorts & Entertainment (NASDAQ:MLCO) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently commented on MLCO. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a report on Tuesday, May 8th. ValuEngine raised shares of Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Wolfe Research raised shares of Melco Resorts & Entertainment from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 10th. Bank of America reaffirmed a “buy” rating and issued a $35.10 price objective (up previously from $34.40) on shares of Melco Resorts & Entertainment in a report on Tuesday, July 24th. Finally, Nomura decreased their price objective on shares of Melco Resorts & Entertainment from $42.00 to $32.00 and set a “buy” rating for the company in a report on Monday, July 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.24.

Melco Resorts & Entertainment stock opened at $22.58 on Friday. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of 24.54, a price-to-earnings-growth ratio of 1.68 and a beta of 1.45. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.04 and a quick ratio of 1.02. Melco Resorts & Entertainment has a 12 month low of $19.99 and a 12 month high of $32.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings data on Tuesday, July 24th. The company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.31 billion. Melco Resorts & Entertainment had a return on equity of 15.47% and a net margin of 7.83%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. analysts anticipate that Melco Resorts & Entertainment will post 1.15 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Wealth Inc. acquired a new position in shares of Melco Resorts & Entertainment during the first quarter valued at $103,000. Blackhawk Capital Partners LLC. acquired a new position in shares of Melco Resorts & Entertainment during the first quarter valued at $136,000. Winfield Associates Inc. acquired a new position in shares of Melco Resorts & Entertainment during the first quarter valued at $203,000. FNY Investment Advisers LLC acquired a new position in shares of Melco Resorts & Entertainment during the second quarter valued at $201,000. Finally, Rothschild Investment Corp IL acquired a new position in shares of Melco Resorts & Entertainment during the second quarter valued at $202,000. 38.75% of the stock is owned by institutional investors.

Melco Resorts & Entertainment Company Profile

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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