Melco Resorts & Entertainment (NASDAQ:MLCO) Downgraded by ValuEngine

Melco Resorts & Entertainment (NASDAQ:MLCO) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday, ValuEngine reports.

Other analysts have also recently issued reports about the company. Nomura restated a “buy” rating and set a $15.00 price target on shares of Melco Resorts & Entertainment in a report on Tuesday, August 13th. BidaskClub downgraded Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. Goldman Sachs Group set a $27.00 price objective on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a report on Tuesday, May 28th. CLSA set a $26.00 target price on shares of Melco Resorts & Entertainment and gave the stock a “buy” rating in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Melco Resorts & Entertainment from $29.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $25.31.

Shares of NASDAQ MLCO traded up $0.02 during mid-day trading on Wednesday, hitting $21.46. 702,500 shares of the stock traded hands, compared to its average volume of 2,366,383. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.82 and a quick ratio of 0.80. Melco Resorts & Entertainment has a twelve month low of $15.33 and a twelve month high of $26.97. The company has a market cap of $10.63 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 0.89 and a beta of 1.86. The firm has a 50 day simple moving average of $21.04 and a two-hundred day simple moving average of $22.38.

Melco Resorts & Entertainment (NASDAQ:MLCO) last issued its earnings results on Wednesday, July 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Melco Resorts & Entertainment had a return on equity of 14.53% and a net margin of 6.55%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS. On average, equities research analysts anticipate that Melco Resorts & Entertainment will post 1.1 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of MLCO. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in Melco Resorts & Entertainment in the second quarter valued at approximately $48,000. Tower Research Capital LLC TRC lifted its position 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 worth $62,000 after purchasing 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 worth approximately $98,000. Atlas Capital Advisors LLC acquired a new position in shares of Melco Resorts & Entertainment in the 2nd quarter worth approximately $139,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Melco Resorts & Entertainment by 19.4% in the 1st quarter. Advisors Asset Management Inc. now owns 7,094 shares of the company’s stock valued at $160,000 after purchasing an additional 1,153 shares during the last quarter. Institutional investors own 35.80% of the company’s stock.

About Melco Resorts & Entertainment

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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