Melco Resorts & Entertainment (NASDAQ:MLCO) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.

Several other analysts have also recently weighed in on the company. Daiwa Capital Markets started coverage on Melco Resorts & Entertainment in a research report on Wednesday, January 23rd. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lifted their price objective on Melco Resorts & Entertainment to $24.00 in a research report on Wednesday, January 23rd. They noted that the move was a valuation call. CLSA raised Melco Resorts & Entertainment from a “sell” rating to an “underperform” rating in a research report on Thursday, January 3rd. China Renaissance Securities raised Melco Resorts & Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th. Finally, ValuEngine raised Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, December 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $28.14.

Melco Resorts & Entertainment stock opened at $21.55 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 1.43. The company has a market cap of $10.66 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 1.21 and a beta of 1.62. Melco Resorts & Entertainment has a fifty-two week low of $15.33 and a fifty-two week high of $32.95.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings data on Tuesday, February 19th. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.04. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Melco Resorts & Entertainment had a return on equity of 13.92% and a net margin of 6.81%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.17 EPS. As a group, analysts forecast that Melco Resorts & Entertainment will post 0.96 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Ayalon Holdings Ltd. bought a new stake in shares of Melco Resorts & Entertainment in the 4th quarter worth approximately $58,000. Advisors Asset Management Inc. raised its holdings in Melco Resorts & Entertainment by 60.6% in 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 last quarter. Executive Wealth Management LLC purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $131,000. Almanack Investment Partners LLC. purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $130,000. Finally, Private Trust Co. NA purchased a new position in Melco Resorts & Entertainment in the 4th quarter worth approximately $176,000. 32.97% of the stock is currently owned by hedge funds and other 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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