Zacks Investment Research lowered shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a buy rating to a hold rating in a report published on Thursday.

According to Zacks, “Melco Resorts & Entertainment Ltd is a developer, owner and operator of casino gaming and entertainment casino resort facilities primarily in Asia. Melco Resorts & Entertainment Ltd, formerly known as Melco Crown Entertainment Limited, is based in Hong Kong. “

A number of other research firms have also recently commented on MLCO. Goldman Sachs Group raised shares of Melco Resorts & Entertainment from a neutral rating to a buy rating in a research note on Sunday, February 4th. BidaskClub raised shares of Melco Resorts & Entertainment from a hold rating to a buy rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. raised shares of Melco Resorts & Entertainment from a neutral rating to an overweight rating and set a $32.00 price objective for the company in a research note on Tuesday, December 19th. TheStreet raised shares of Melco Resorts & Entertainment from a c+ rating to a b rating in a research note on Tuesday, November 21st. Finally, Daiwa Capital Markets raised shares of Melco Resorts & Entertainment from a hold rating to a buy rating and set a $32.00 price objective for the company in a research note on Thursday, November 30th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $26.46.

Melco Resorts & Entertainment (NASDAQ MLCO) traded down $2.06 during trading on Thursday, reaching $25.06. 3,470,577 shares of the company traded hands, compared to its average volume of 3,450,725. Melco Resorts & Entertainment has a 1-year low of $16.00 and a 1-year high of $30.49. The stock has a market capitalization of $12,350.00, a PE ratio of 35.80, a PEG ratio of 2.22 and a beta of 1.71. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.14.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.06). The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.36 billion. Melco Resorts & Entertainment had a return on equity of 12.21% and a net margin of 5.92%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. equities analysts predict that Melco Resorts & Entertainment will post 0.88 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hardman Johnston Global Advisors LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at $158,130,000. American Century Companies Inc. purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at $90,957,000. Nicholas Investment Partners LP purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at $84,420,000. Mckinley Capital Management LLC Delaware purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at $70,699,000. Finally, Janus Henderson Group PLC purchased a new stake in Melco Resorts & Entertainment during the 3rd quarter valued at $70,242,000. 41.39% of the stock is owned by institutional investors and hedge funds.

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Melco Resorts & Entertainment Company Profile

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.

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

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