BidaskClub upgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a strong sell rating to a sell rating in a research note released on Friday morning.

Other equities analysts also recently issued reports about the stock. Sanford C. Bernstein lowered their price objective on shares of Melco Resorts & Entertainment from $34.50 to $27.00 and set an outperform rating for the company in a research note on Monday, September 17th. They noted that the move was a valuation call. UBS Group downgraded shares of Melco Resorts & Entertainment from a buy rating to a neutral rating in a research note on Wednesday, September 12th. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a hold rating to a strong sell rating in a research note on Sunday, July 15th. Bank of America reaffirmed a buy rating and set a $35.10 price objective (up from $34.40) on shares of Melco Resorts & Entertainment in a research note on Tuesday, July 24th. Finally, ValuEngine downgraded shares of Melco Resorts & Entertainment from a hold rating to a sell rating in a research note on Friday, September 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $32.87.

NASDAQ MLCO opened at $21.22 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 1.05. Melco Resorts & Entertainment has a 12-month low of $19.10 and a 12-month high of $32.95. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 23.32, a price-to-earnings-growth ratio of 1.74 and a beta of 1.53.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Tuesday, July 24th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the previous year, the company earned $0.07 earnings per share. The business’s quarterly revenue was down 5.3% on a year-over-year basis. sell-side analysts predict that Melco Resorts & Entertainment will post 1.06 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of MLCO. BlackRock Inc. raised its stake in shares of Melco Resorts & Entertainment by 28.9% during the first quarter. BlackRock Inc. now owns 22,186,282 shares of the company’s stock valued at $642,959,000 after acquiring an additional 4,977,655 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Melco Resorts & Entertainment by 86.4% during the second quarter. Renaissance Technologies LLC now owns 2,312,600 shares of the company’s stock valued at $64,753,000 after acquiring an additional 1,071,800 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Melco Resorts & Entertainment during the second quarter valued at about $24,627,000. Pagoda Asset Management LP bought a new position in shares of Melco Resorts & Entertainment during the first quarter valued at about $22,958,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Melco Resorts & Entertainment by 566.0% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 650,233 shares of the company’s stock valued at $18,207,000 after acquiring an additional 552,600 shares during the last quarter. 40.49% of the stock is owned by hedge funds and other institutional investors.

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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