Melco Crown Entertainment Limited (NASDAQ:MLCO) shares gapped down before the market opened on Friday . The stock had previously closed at $24.46, but opened at $23.98. Melco Crown Entertainment Limited shares last traded at $23.57, with a volume of 2,170,513 shares trading hands.

A number of research analysts recently weighed in on the stock. Macquarie lowered their target price on shares of Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating on the stock in a research note on Friday, August 18th. UBS AG restated a “buy” rating on shares of Melco Crown Entertainment Limited in a research note on Monday, July 10th. Zacks Investment Research cut shares of Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Sanford C. Bernstein restated an “outperform” rating on shares of Melco Crown Entertainment Limited in a research note on Wednesday, July 12th. Finally, TheStreet cut shares of Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $22.98.

The company has a market cap of $11.62 billion, a price-to-earnings ratio of 68.12 and a beta of 1.84. The company has a 50 day moving average of $21.09 and a 200 day moving average of $20.79.

Melco Crown Entertainment Limited (NASDAQ:MLCO) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.04). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Melco Crown Entertainment Limited had a net margin of 5.11% and a return on equity of 9.20%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that Melco Crown Entertainment Limited will post $0.84 earnings per share for the current year.

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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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