Melco Resorts & Entertainment (MLCO) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a hold rating to a sell rating in a research report sent to investors on Wednesday, BidAskClub reports.

MLCO has been the topic of a number of other reports. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a buy rating to a hold rating in a report on Friday, February 8th. CLSA upgraded shares of Melco Resorts & Entertainment from an underperform rating to an outperform rating in a report on Tuesday, February 19th. Daiwa Capital Markets started coverage on shares of Melco Resorts & Entertainment in a report on Wednesday, January 23rd. They issued an outperform rating on the stock. China Renaissance Securities upgraded shares of Melco Resorts & Entertainment from a hold rating to a buy rating in a report on Tuesday, February 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Melco Resorts & Entertainment to $24.00 in a report on Wednesday, January 23rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company’s stock. Melco Resorts & Entertainment currently has an average rating of Buy and an average target price of $28.13.

NASDAQ:MLCO opened at $20.49 on Wednesday. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 1.11 and a beta of 1.64. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.03 and a current ratio of 1.05. Melco Resorts & Entertainment has a 12-month low of $15.33 and a 12-month high of $32.93.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.34 billion. Melco Resorts & Entertainment had a net margin of 6.00% and a return on equity of 13.47%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. Analysts forecast that Melco Resorts & Entertainment will post 0.94 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Monday, May 20th will be issued a dividend of $0.1551 per share. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.16. This represents a $0.62 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Friday, May 17th. Melco Resorts & Entertainment’s dividend payout ratio is presently 68.54%.

Several hedge funds have recently made changes to their positions in MLCO. Ayalon Holdings Ltd. purchased a new position in shares of Melco Resorts & Entertainment during the 4th quarter worth about $58,000. Cresset Asset Management LLC purchased a new position in shares of Melco Resorts & Entertainment during the 1st quarter worth about $90,000. Advisors Asset Management Inc. lifted its holdings in shares of Melco Resorts & Entertainment by 60.6% during the 4th quarter. Advisors Asset Management Inc. now owns 5,941 shares of the company’s stock worth $105,000 after acquiring an additional 2,242 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Melco Resorts & Entertainment by 123.4% during the 1st quarter. Quadrant Capital Group LLC now owns 5,310 shares of the company’s stock worth $116,000 after acquiring an additional 2,933 shares during the period. Finally, Gulf International Bank UK Ltd lifted its holdings in shares of Melco Resorts & Entertainment by 14.7% during the 1st quarter. Gulf International Bank UK Ltd now owns 5,450 shares of the company’s stock worth $123,000 after acquiring an additional 700 shares during the period. Institutional investors and hedge funds own 32.73% 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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