Melco Resorts & Entertainment (MLCO) Reaches New 12-Month Low at $18.99

Shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO) reached a new 52-week low during trading on Monday . The stock traded as low as $18.99 and last traded at $19.02, with a volume of 171093 shares changing hands. The stock had previously closed at $19.82.

Several analysts have recently issued reports on MLCO shares. Zacks Investment Research upgraded shares of Melco Resorts & Entertainment from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 26th. Wolfe Research upgraded shares of Melco Resorts & Entertainment from a “market perform” rating to an “outperform” rating in a research report on Tuesday, July 10th. ValuEngine upgraded shares of Melco Resorts & Entertainment from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Nomura dropped their target price on shares of Melco Resorts & Entertainment from $42.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, July 9th. Finally, BidaskClub lowered shares of Melco Resorts & Entertainment from a “hold” rating to a “sell” rating in a research report on Thursday, June 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $32.87.

The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.66 and a beta of 1.48.

Melco Resorts & Entertainment (NASDAQ:MLCO) last posted its quarterly earnings results on Tuesday, July 24th. The company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.05). The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Melco Resorts & Entertainment had a return on equity of 15.47% and a net margin of 7.83%. The business’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. As a group, analysts anticipate that Melco Resorts & Entertainment Limited will post 1.06 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of MLCO. Financial Gravity Wealth Inc. purchased a new position in shares of Melco Resorts & Entertainment in the first quarter worth about $103,000. Blackhawk Capital Partners LLC. purchased a new position in Melco Resorts & Entertainment during the first quarter worth about $136,000. FNY Investment Advisers LLC purchased a new position in Melco Resorts & Entertainment during the second quarter worth about $201,000. Rothschild Investment Corp IL purchased a new position in Melco Resorts & Entertainment during the second quarter worth about $202,000. Finally, Lucia Wealth Services LLC purchased a new position in Melco Resorts & Entertainment during the second quarter worth about $210,000. 40.49% of the stock is currently owned by hedge funds and other institutional investors.

About Melco Resorts & Entertainment (NASDAQ:MLCO)

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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