Melco Resorts & Entertainment (NASDAQ:MLCO) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Tuesday.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a report on Thursday, July 26th. ValuEngine lowered shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a report on Friday, September 7th. Wolfe Research upgraded shares of Melco Resorts & Entertainment from a “market perform” rating to an “outperform” rating in a report on Tuesday, July 10th. Nomura reduced their target price 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. Finally, Bank of America reiterated a “buy” rating and set a $35.10 target price (up from $34.40) on shares of Melco Resorts & Entertainment in a report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $33.16.

Shares of MLCO stock opened at $20.05 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.05. Melco Resorts & Entertainment has a one year low of $19.10 and a one year high of $32.95. The company has a market capitalization of $10.45 billion, a PE ratio of 21.35, a P/E/G ratio of 1.53 and a beta of 1.53.

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

A number of institutional investors have recently added to or reduced their stakes in MLCO. SG Americas Securities LLC increased its position in shares of Melco Resorts & Entertainment by 1,935.3% in the 2nd quarter. SG Americas Securities LLC now owns 431,244 shares of the company’s stock valued at $12,075,000 after purchasing an additional 410,056 shares during the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at approximately $386,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Melco Resorts & Entertainment by 1.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 795,558 shares of the company’s stock valued at $22,276,000 after buying an additional 8,085 shares during the last quarter. Boston Partners purchased a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $1,660,000. Finally, USA Mutuals Advisors Inc. purchased a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $7,445,000. Institutional investors own 40.50% of the company’s stock.

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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