Melco Resorts & Entertainment Limited (NASDAQ:MLCO)’s share price traded down 8.7% during trading on Thursday . The company traded as low as $20.92 and last traded at $21.04. 7,313,396 shares were traded during mid-day trading, an increase of 142% from the average session volume of 3,023,107 shares. The stock had previously closed at $23.05.

A number of equities analysts have commented on the stock. BidaskClub lowered shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Nomura cut their price objective on shares of Melco Resorts & Entertainment from $42.00 to $32.00 and set a “buy” rating on the stock in a report on Monday, July 9th. ValuEngine lowered shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. Finally, Bank of America reiterated 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. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $33.16.

The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $10.40 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.53.

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

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Monday, August 6th were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date was Friday, August 3rd. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.14. Melco Resorts & Entertainment’s dividend payout ratio is 61.96%.

Institutional investors have recently modified their holdings of the company. Financial Gravity Wealth Inc. acquired a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at about $103,000. Blackhawk Capital Partners LLC. acquired a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at about $136,000. Winfield Associates Inc. acquired a new stake in shares of Melco Resorts & Entertainment in the 1st quarter valued at about $203,000. FNY Investment Advisers LLC acquired a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at about $201,000. Finally, Rothschild Investment Corp IL acquired a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at about $202,000. Institutional investors and hedge funds own 40.51% of the company’s stock.

About Melco Resorts & Entertainment (NASDAQ:MLCO)

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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