Melco Resorts & Entertainment (NASDAQ:MLCO) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a strong sell rating to a sell rating in a research report released on Friday morning, BidAskClub reports.

Other analysts have also recently issued reports about the stock. Credit Suisse Group cut shares of Melco Resorts & Entertainment from an outperform rating to a neutral rating and decreased their price target for the company from $24.60 to $18.70 in a research note on Monday, September 21st. Zacks Investment Research cut shares of Melco Resorts & Entertainment from a buy rating to a strong sell rating in a research note on Thursday, July 23rd. BOCOM International began coverage on shares of Melco Resorts & Entertainment in a research note on Friday, September 11th. They set a buy rating on the stock. TheStreet cut shares of Melco Resorts & Entertainment from a c rating to a d+ rating in a research note on Tuesday, September 8th. Finally, Bank of America reaffirmed a buy rating and issued a $20.00 price objective on shares of Melco Resorts & Entertainment in a research note on Friday, August 7th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. Melco Resorts & Entertainment currently has a consensus rating of Hold and an average target price of $23.07.

Shares of Melco Resorts & Entertainment stock opened at $15.91 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.01 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $7.32 billion, a price-to-earnings ratio of -13.04 and a beta of 1.96. Melco Resorts & Entertainment has a 1-year low of $10.81 and a 1-year high of $25.22. The firm’s 50-day moving average price is $16.73 and its two-hundred day moving average price is $16.64.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, August 20th. The company reported ($0.77) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.15) by $0.38. Melco Resorts & Entertainment had a negative net margin of 14.98% and a negative return on equity of 21.63%. The business had revenue of $175.80 million for the quarter, compared to analysts’ expectations of $187.31 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Melco Resorts & Entertainment’s revenue was down 88.0% compared to the same quarter last year. As a group, equities research analysts predict that Melco Resorts & Entertainment will post -2.67 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Investment Consultants LLC raised its holdings in Melco Resorts & Entertainment by 45.1% in the third quarter. Integrated Investment Consultants LLC now owns 26,890 shares of the company’s stock worth $447,000 after purchasing an additional 8,360 shares during the period. Standard Life Aberdeen plc raised its holdings in Melco Resorts & Entertainment by 3.9% in the third quarter. Standard Life Aberdeen plc now owns 77,920 shares of the company’s stock worth $1,298,000 after purchasing an additional 2,902 shares during the period. Nisa Investment Advisors LLC acquired a new stake in Melco Resorts & Entertainment in the third quarter worth $1,737,000. Schonfeld Strategic Advisors LLC raised its holdings in Melco Resorts & Entertainment by 610.3% in the second quarter. Schonfeld Strategic Advisors LLC now owns 164,800 shares of the company’s stock worth $2,557,000 after purchasing an additional 141,600 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in Melco Resorts & Entertainment by 0.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 224,999 shares of the company’s stock worth $3,492,000 after purchasing an additional 707 shares during the period. Institutional investors own 40.23% 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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