Melco Resorts & Entertainment (MLCO) Downgraded to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a sell rating to a strong sell rating in a report issued on Saturday morning.

A number of other equities analysts also recently commented on MLCO. ValuEngine raised shares of Melco Resorts & Entertainment from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Melco Resorts & Entertainment from a hold rating to a strong-buy rating and set a $38.00 price objective for the company in a research note on Tuesday, May 8th. Bank of America reissued a buy rating and issued a $35.10 price objective (up previously from $34.40) on shares of Melco Resorts & Entertainment in a research note on Tuesday, July 24th. Nomura reduced their price objective on shares of Melco Resorts & Entertainment from $42.00 to $32.00 and set a buy rating for the company in a research note on Monday, July 9th. Finally, Wolfe Research raised shares of Melco Resorts & Entertainment from a market perform rating to an outperform rating in a research note on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $32.24.

Shares of Melco Resorts & Entertainment traded down $0.64, hitting $22.58, on Friday, MarketBeat.com reports. 3,022,167 shares of the company traded hands, compared to its average volume of 4,409,330. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.02 and a current ratio of 1.04. Melco Resorts & Entertainment has a 52 week low of $19.99 and a 52 week high of $32.95. The company has a market capitalization of $11.48 billion, a PE ratio of 22.11, a P/E/G ratio of 1.68 and a beta of 1.45.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Monday, August 6th will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 2.57%. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, August 3rd. Melco Resorts & Entertainment’s dividend payout ratio is presently 61.96%.

A number of large investors have recently bought and sold shares of MLCO. Guggenheim Capital LLC grew its stake in Melco Resorts & Entertainment by 28.6% during the 4th quarter. Guggenheim Capital LLC now owns 31,180 shares of the company’s stock valued at $906,000 after acquiring an additional 6,934 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Melco Resorts & Entertainment during the 4th quarter valued at about $575,000. Global X Management Co. LLC grew its stake in Melco Resorts & Entertainment by 52.1% during the 1st quarter. Global X Management Co. LLC now owns 690,339 shares of the company’s stock valued at $20,006,000 after acquiring an additional 236,340 shares in the last quarter. Miracle Mile Advisors LLC purchased a new stake in Melco Resorts & Entertainment during the 1st quarter valued at about $1,449,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Melco Resorts & Entertainment during the 1st quarter valued at about $421,000. 38.75% of the stock is currently owned by institutional investors.

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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