Melco Crown Entertainment Limited (MLCO) Receives Average Rating of “Buy” from Brokerages
Melco Crown Entertainment Limited (NASDAQ:MLCO) has earned an average rating of “Buy” from the twenty-one brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $20.41.
Several analysts recently issued reports on the company. Instinet reiterated a “neutral” rating and set a $20.00 target price (up previously from $19.00) on shares of Melco Crown Entertainment Limited in a research report on Monday, June 19th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Melco Crown Entertainment Limited in a research report on Wednesday, May 24th. Aegis increased their target price on Melco Crown Entertainment Limited from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. TheStreet upgraded Melco Crown Entertainment Limited from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. Finally, Nomura reiterated a “hold” rating and set a $19.00 target price on shares of Melco Crown Entertainment Limited in a research report on Sunday, May 7th.
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Shares of Melco Crown Entertainment Limited (MLCO) traded up 0.72% during midday trading on Monday, reaching $23.70. The company had a trading volume of 305,160 shares. The company’s 50-day moving average is $22.37 and its 200-day moving average is $18.88. The stock has a market capitalization of $11.58 billion, a PE ratio of 47.02 and a beta of 1.86. Melco Crown Entertainment Limited has a 1-year low of $11.90 and a 1-year high of $23.94.
Melco Crown Entertainment Limited (NASDAQ:MLCO) last released its earnings results on Thursday, May 4th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.16. Melco Crown Entertainment Limited had a return on equity of 7.43% and a net margin of 5.23%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. On average, equities research analysts forecast that Melco Crown Entertainment Limited will post $0.76 EPS for the current year.
The business also recently disclosed a special dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 16th were paid a $0.09 dividend. This represents a dividend yield of 1.68%. This is a positive change 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 dividend payout ratio (DPR) is presently 45.10%.
Melco Crown Entertainment Limited Company Profile
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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