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

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

Other equities research analysts have also issued reports about the stock. ValuEngine raised shares of Melco Resorts & Entertainment from a strong sell rating to a sell rating in a report on Friday, November 1st. CLSA set a $26.00 target price on shares of Melco Resorts & Entertainment and gave the stock a buy rating in a report on Friday, September 6th. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a buy rating to a hold rating in a report on Wednesday, September 25th. Nomura reissued a buy rating and set a $15.00 target price on shares of Melco Resorts & Entertainment in a report on Tuesday, August 13th. 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 equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. Melco Resorts & Entertainment has a consensus rating of Buy and a consensus target price of $24.43.

MLCO traded down $0.57 during trading on Friday, reaching $21.76. 96,035 shares of the company’s stock were exchanged, compared to its average volume of 1,381,343. Melco Resorts & Entertainment has a one year low of $15.33 and a one year high of $26.97. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $10.96 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 1.00 and a beta of 1.85. The firm has a fifty day moving average price of $20.71 and a two-hundred day moving average price of $21.66.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its earnings results on Wednesday, October 30th. The company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.03). Melco Resorts & Entertainment had a return on equity of 17.61% and a net margin of 7.60%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue was up 16.4% compared to the same quarter last year. Sell-side analysts expect that Melco Resorts & Entertainment will post 1.05 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, November 7th. Melco Resorts & Entertainment’s dividend payout ratio is currently 73.03%.

Large investors have recently bought and sold shares of the company. Usca Ria LLC bought a new stake in shares of Melco Resorts & Entertainment in the 3rd quarter valued at $39,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $48,000. Tower Research Capital LLC TRC boosted its stake 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 valued at $62,000 after purchasing an additional 2,780 shares during the last quarter. Asahi Life Asset Management CO. LTD. bought a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $98,000. Finally, Atlas Capital Advisors LLC bought a new stake in shares of Melco Resorts & Entertainment in the 2nd quarter valued at $139,000. 35.79% 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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