Zacks Investment Research downgraded shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) from a buy rating to a hold rating in a research report released on Friday.

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. “

A number of other research analysts also recently weighed in on the stock. Nomura raised shares of Melco Crown Entertainment Limited from a neutral rating to a buy rating and raised their target price for the company from $20.00 to $29.00 in a research report on Tuesday, September 19th. Instinet raised shares of Melco Crown Entertainment Limited from a neutral rating to a buy rating and raised their target price for the company from $20.00 to $29.00 in a research report on Tuesday, September 19th. Roth Capital initiated coverage on shares of Melco Crown Entertainment Limited in a research report on Wednesday, November 1st. They issued a buy rating and a $34.00 target price for the company. TheStreet downgraded shares of Melco Crown Entertainment Limited from a b- rating to a c+ rating in a research report on Thursday, July 27th. Finally, Macquarie decreased their target price on shares of Melco Crown Entertainment Limited from $26.00 to $25.80 and set an outperform rating for the company in a research report on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $24.83.

Shares of Melco Crown Entertainment Limited (NASDAQ MLCO) opened at $25.13 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.14. Melco Crown Entertainment Limited has a 12-month low of $14.89 and a 12-month high of $26.54. The stock has a market cap of $12,397.77, a price-to-earnings ratio of 30.00, a PEG ratio of 1.04 and a beta of 1.92.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Tuesday, November 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, November 13th. This is a boost from Melco Crown Entertainment Limited’s previous quarterly dividend of $0.03. Melco Crown Entertainment Limited’s dividend payout ratio (DPR) is currently 43.55%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Melco Crown Entertainment Limited in the 3rd quarter worth about $112,000. LS Investment Advisors LLC acquired a new stake in Melco Crown Entertainment Limited in the 3rd quarter worth about $129,000. Nordea Investment Management AB acquired a new stake in Melco Crown Entertainment Limited in the 3rd quarter worth about $136,000. Hartford Investment Management Co. acquired a new stake in Melco Crown Entertainment Limited in the 3rd quarter worth about $203,000. Finally, Cavalier Investments LLC acquired a new stake in Melco Crown Entertainment Limited in the 3rd quarter worth about $205,000. Institutional investors own 40.12% of the company’s stock.

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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