Zacks Investment Research upgraded shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) from a hold rating to a buy rating in a report issued on Thursday morning. They currently have $28.00 price objective on the stock.

According to Zacks, “Melco Resorts & Entertainment Ltd is a developer, owner and operator of casino gaming and entertainment casino resort facilities primarily in Asia. Melco Resorts & Entertainment Ltd, formerly known as Melco Crown Entertainment Limited, is based in Hong Kong. “

MLCO has been the subject of a number of other reports. Nomura increased their price target on Melco Crown Entertainment Limited from $29.00 to $33.00 and gave the stock a buy rating in a report on Friday, November 3rd. Roth Capital started coverage on Melco Crown Entertainment Limited in a research report on Wednesday, November 1st. They set a buy rating and a $34.00 target price on the stock. Instinet upgraded Melco Crown Entertainment Limited from a neutral rating to a buy rating and raised their price target for the stock from $20.00 to $29.00 in a research note on Tuesday, September 19th. Sanford C. Bernstein reiterated an outperform rating on shares of Melco Crown Entertainment Limited in a research note on Wednesday, July 12th. Finally, Macquarie reduced their price target on Melco Crown Entertainment Limited from $26.00 to $25.80 and set an outperform rating for the company in a report on Friday, August 18th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Melco Crown Entertainment Limited presently has an average rating of Buy and an average target price of $24.83.

Shares of Melco Crown Entertainment Limited (NASDAQ MLCO) traded down $0.03 on Thursday, hitting $25.20. The company had a trading volume of 1,524,000 shares, compared to its average volume of 3,799,611. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.08 and a quick ratio of 1.07. Melco Crown Entertainment Limited has a 52-week low of $14.89 and a 52-week high of $26.54. The stock has a market capitalization of $12,450.00, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.04 and a beta of 1.92.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Monday, November 13th. This is an increase from Melco Crown Entertainment Limited’s previous quarterly dividend of $0.03. Melco Crown Entertainment Limited’s payout ratio is 47.62%.

A number of hedge funds have recently bought and sold shares of the business. American Century Companies Inc. purchased a new stake in shares of Melco Crown Entertainment Limited in the third quarter worth about $90,957,000. Mckinley Capital Management LLC Delaware acquired a new stake in Melco Crown Entertainment Limited during the third quarter valued at approximately $70,699,000. Russell Investments Group Ltd. acquired a new stake in Melco Crown Entertainment Limited during the third quarter valued at approximately $61,384,000. ARGA Investment Management LP acquired a new stake in Melco Crown Entertainment Limited during the third quarter valued at approximately $58,096,000. Finally, Swiss National Bank acquired a new stake in Melco Crown Entertainment Limited during the third quarter valued at approximately $22,076,000. 40.12% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Melco Crown Entertainment Limited (NASDAQ:MLCO)

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