Melco Crown Entertainment Limited’s (MLCO) Neutral Rating Reaffirmed at Instinet
Melco Crown Entertainment Limited (NASDAQ:MLCO)‘s stock had its “neutral” rating reaffirmed by Instinet in a research report issued on Monday. They currently have a $20.00 price objective on the stock, up from their prior price objective of $19.00. Instinet’s price target indicates a potential downside of 14.68% from the stock’s previous close.
MLCO has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Sanford C. Bernstein restated a “buy” rating and set a $21.50 price target on shares of Melco Crown Entertainment Limited in a report on Monday, April 3rd. Union Gaming Research upgraded shares of Melco Crown Entertainment Limited to a “buy” rating and set a $18.00 price target on the stock in a report on Monday, April 24th. Vetr lowered shares of Melco Crown Entertainment Limited from a “strong-buy” rating to a “buy” rating and set a $19.15 price target on the stock. in a report on Wednesday, March 1st. Finally, TheStreet upgraded shares of Melco Crown Entertainment Limited from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.25.
Shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) traded up 3.26% during mid-day trading on Monday, reaching $23.44. 2,748,374 shares of the company were exchanged. The firm has a market capitalization of $11.45 billion, a PE ratio of 46.51 and a beta of 1.86. Melco Crown Entertainment Limited has a 12 month low of $11.90 and a 12 month high of $23.94. The company’s 50 day moving average price is $22.30 and its 200 day moving average price is $18.82.
Melco Crown Entertainment Limited (NASDAQ:MLCO) last released its quarterly earnings results on Thursday, May 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.16. Melco Crown Entertainment Limited had a net margin of 5.23% and a return on equity of 7.43%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue was up 15.7% compared to the same quarter last year. Equities analysts anticipate that Melco Crown Entertainment Limited will post $0.76 earnings per share for the current year.
The firm also recently announced a special dividend, which was paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th were given a $0.09 dividend. This represents a yield of 1.68%. This is an increase from Melco Crown Entertainment Limited’s previous special dividend of $0.02. The ex-dividend date of this dividend was Friday, May 12th. Melco Crown Entertainment Limited’s payout ratio is currently 45.10%.
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About Melco Crown Entertainment Limited
Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.
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