ValuEngine Lowers Melco Resorts & Entertainment (MLCO) to Sell

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ValuEngine downgraded shares of Melco Resorts & Entertainment (NASDAQ:MLCO) from a hold rating to a sell rating in a research note issued to investors on Friday.

MLCO has been the subject of several other research reports. Zacks Investment Research lowered shares of Melco Resorts & Entertainment from a hold rating to a strong sell rating in a research report on Sunday, July 15th. BidaskClub raised shares of Melco Resorts & Entertainment from a strong sell rating to a sell rating in a research report on Wednesday, August 22nd. Bank of America reaffirmed a buy rating and set a $35.10 price target (up previously from $34.40) on shares of Melco Resorts & Entertainment in a research report on Tuesday, July 24th. Nomura reduced their price target on shares of Melco Resorts & Entertainment from $42.00 to $32.00 and set a buy rating for the company in a research report on Monday, July 9th. Finally, Wolfe Research raised shares of Melco Resorts & Entertainment from a market perform rating to an outperform rating in a research report on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $33.16.

NASDAQ:MLCO traded up $0.10 during mid-day trading on Friday, reaching $21.14. The company’s stock had a trading volume of 2,665,229 shares, compared to its average volume of 3,442,255. Melco Resorts & Entertainment has a 12-month low of $20.46 and a 12-month high of $32.95. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.02 and a current ratio of 1.04. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 22.98, a price-to-earnings-growth ratio of 1.52 and a beta of 1.53.

Melco Resorts & Entertainment (NASDAQ:MLCO) last released its quarterly earnings results on Tuesday, July 24th. The company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ 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 period in the previous year, the company earned $0.07 EPS. Melco Resorts & Entertainment’s revenue for the quarter was down 5.3% compared to the same quarter last year. research analysts predict that Melco Resorts & Entertainment will post 1.15 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Monday, August 6th were given a dividend of $0.145 per share. The ex-dividend date was Friday, August 3rd. This represents a $0.58 annualized dividend and a dividend yield of 2.74%. This is a positive change from Melco Resorts & Entertainment’s previous quarterly dividend of $0.14. Melco Resorts & Entertainment’s dividend payout ratio is presently 61.96%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. purchased a new stake in Melco Resorts & Entertainment in the 1st quarter worth approximately $103,000. Blackhawk Capital Partners LLC. purchased a new stake in Melco Resorts & Entertainment in the 1st quarter worth approximately $136,000. FNY Investment Advisers LLC purchased a new stake in Melco Resorts & Entertainment in the 2nd quarter worth approximately $201,000. Rothschild Investment Corp IL purchased a new stake in Melco Resorts & Entertainment in the 2nd quarter worth approximately $202,000. Finally, Winfield Associates Inc. purchased a new stake in Melco Resorts & Entertainment in the 1st quarter worth approximately $203,000. 40.51% of the stock is 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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