BidaskClub lowered shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a sell rating to a strong sell rating in a research note published on Tuesday.

MLCO has been the topic of several other reports. Zacks Investment Research cut Melco Resorts & Entertainment from a hold rating to a strong sell rating in a research note on Sunday, July 15th. Bank of America restated a buy rating and set a $35.10 price objective (up from $34.40) on shares of Melco Resorts & Entertainment in a research note on Tuesday, July 24th. Nomura reduced their price objective on Melco Resorts & Entertainment from $42.00 to $32.00 and set a buy rating on the stock in a research note on Monday, July 9th. ValuEngine upgraded Melco Resorts & Entertainment from a sell rating to a hold rating in a research note on Wednesday, August 22nd. Finally, UBS Group cut Melco Resorts & Entertainment from a buy rating to a neutral rating in a research note on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $32.87.

MLCO traded up $0.64 during trading hours on Tuesday, hitting $18.84. 3,375,315 shares of the stock were exchanged, compared to its average volume of 3,257,254. Melco Resorts & Entertainment has a 12 month low of $17.89 and a 12 month high of $32.95. The stock has a market capitalization of $10.46 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.66 and a beta of 1.48. 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 (NASDAQ:MLCO) last announced its quarterly earnings data on Tuesday, July 24th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, research analysts anticipate that Melco Resorts & Entertainment will post 1.06 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of MLCO. 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. FNY Investment Advisers LLC acquired a new position in shares of Melco Resorts & Entertainment during the second quarter valued at $201,000. Rothschild Investment Corp IL acquired a new position in shares of Melco Resorts & Entertainment during the second quarter valued at $202,000. Finally, Lucia Wealth Services LLC acquired a new position in shares of Melco Resorts & Entertainment during the second quarter valued at $210,000. Institutional investors own 40.49% 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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