BidaskClub downgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a hold rating to a sell rating in a research report report published on Saturday, BidAskClub reports.

A number of other analysts have also recently weighed in on the stock. Nomura raised their price objective on shares of Melco Resorts & Entertainment from $27.00 to $30.00 and gave the stock a buy rating in a report on Wednesday, May 8th. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a hold rating to a buy rating and set a $28.00 price objective on the stock in a report on Thursday, July 25th. Wolfe Research cut shares of Melco Resorts & Entertainment from an outperform rating to a peer perform rating in a report on Wednesday, May 8th. Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the stock a buy rating in a report on Tuesday, May 28th. Finally, ValuEngine cut shares of Melco Resorts & Entertainment from a buy rating to a hold rating in a report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $25.79.

Shares of NASDAQ:MLCO opened at $19.91 on Friday. The company has a 50 day moving average price of $22.74. The firm has a market capitalization of $9.96 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 0.89 and a beta of 1.76. Melco Resorts & Entertainment has a fifty-two week low of $15.33 and a fifty-two week high of $26.97. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 1.47.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.04. Melco Resorts & Entertainment had a net margin of 6.55% and a return on equity of 14.53%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the company earned $0.12 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year. On average, research analysts predict that Melco Resorts & Entertainment will post 1.03 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be issued a $0.1651 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Melco Resorts & Entertainment’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Friday, August 2nd. Melco Resorts & Entertainment’s payout ratio is presently 73.03%.

Institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $48,000. Tower Research Capital LLC TRC increased its holdings in shares of Melco Resorts & Entertainment by 2,725.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,882 shares of the company’s stock valued at $62,000 after acquiring an additional 2,780 shares during the period. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $98,000. Quadrant Capital Group LLC increased its holdings in shares of Melco Resorts & Entertainment by 123.4% in the 1st quarter. Quadrant Capital Group LLC now owns 5,310 shares of the company’s stock valued at $116,000 after acquiring an additional 2,933 shares during the period. Finally, Gulf International Bank UK Ltd increased its holdings in shares of Melco Resorts & Entertainment by 14.7% in the 1st quarter. Gulf International Bank UK Ltd now owns 5,450 shares of the company’s stock valued at $123,000 after acquiring an additional 700 shares during the period. 34.42% of the stock is currently owned by institutional investors and hedge funds.

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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