BidaskClub cut shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a hold rating to a sell rating in a research note issued to investors on Friday morning, BidAskClub reports.

Several other brokerages also recently issued reports on MLCO. ValuEngine upgraded shares of Melco Resorts & Entertainment from a strong sell rating to a sell rating in a research note on Friday, December 20th. Zacks Investment Research downgraded shares of Melco Resorts & Entertainment from a strong-buy rating to a hold rating in a research report on Thursday, January 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $24.49.

Shares of MLCO traded up $0.80 during trading hours on Friday, hitting $25.02. The company had a trading volume of 2,850,168 shares, compared to its average volume of 1,708,017. The firm has a fifty day moving average price of $23.25 and a 200-day moving average price of $21.94. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.88 and a current ratio of 0.89. The stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 0.96 and a beta of 1.88. Melco Resorts & Entertainment has a 52-week low of $18.68 and a 52-week high of $26.97.

Melco Resorts & Entertainment (NASDAQ:MLCO) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.03). The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Melco Resorts & Entertainment had a net margin of 7.60% and a return on equity of 17.61%. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the company posted $0.05 earnings per share. Research analysts anticipate that Melco Resorts & Entertainment will post 1.14 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in MLCO. Nomura Holdings Inc. bought a new stake in Melco Resorts & Entertainment in the 3rd quarter worth about $5,067,000. State Street Corp lifted its stake in Melco Resorts & Entertainment by 8.5% during the 3rd quarter. State Street Corp now owns 4,815,666 shares of the company’s stock valued at $93,472,000 after acquiring an additional 376,394 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Melco Resorts & Entertainment by 7.5% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,400 shares of the company’s stock valued at $415,000 after acquiring an additional 1,500 shares during the period. California State Teachers Retirement System lifted its stake in Melco Resorts & Entertainment by 2.2% during the 3rd quarter. California State Teachers Retirement System now owns 294,330 shares of the company’s stock valued at $5,713,000 after acquiring an additional 6,441 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Melco Resorts & Entertainment by 3.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 628,862 shares of the company’s stock valued at $12,206,000 after acquiring an additional 22,068 shares during the last quarter. 35.24% 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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