Melco Crown Entertainment Limited’s (MLCO) “Neutral” Rating Reaffirmed at Instinet

Instinet restated their neutral rating on shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) in a report issued on Monday morning. Instinet currently has a $20.00 target price on the stock, up from their prior target price of $19.00.

Several other equities research analysts also recently weighed in on the company. Sanford C. Bernstein reissued an outperform rating on shares of Melco Crown Entertainment Limited in a report on Wednesday, May 24th. Aegis lifted their target price on Melco Crown Entertainment Limited from $25.00 to $27.00 and gave the stock a buy rating in a report on Monday, May 15th. TheStreet raised Melco Crown Entertainment Limited from a c+ rating to a b- rating in a report on Thursday, May 4th. Nomura reaffirmed a hold rating and set a $19.00 target price on shares of Melco Crown Entertainment Limited in a report on Sunday, May 7th. Finally, Credit Suisse Group set a $23.00 target price on Melco Crown Entertainment Limited and gave the stock a buy rating in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $20.25.

Melco Crown Entertainment Limited (MLCO) traded down 1.41% on Monday, hitting $23.11. 1,011,552 shares of the company’s stock traded hands. Melco Crown Entertainment Limited has a 12 month low of $11.90 and a 12 month high of $23.94. The stock has a market cap of $11.29 billion, a P/E ratio of 45.85 and a beta of 1.86. The stock has a 50 day moving average price of $22.35 and a 200-day moving average price of $18.85.

Melco Crown Entertainment Limited (NASDAQ:MLCO) last posted its earnings results on Thursday, May 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 company 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 firm earned $0.07 earnings per share. The firm’s quarterly revenue was up 15.7% compared to the same quarter last year. Equities analysts predict that Melco Crown Entertainment Limited will post $0.76 earnings per share for the current fiscal year.

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The company also recently disclosed a special dividend, which was paid on Wednesday, May 31st. Stockholders of record on Tuesday, May 16th were issued a dividend of $0.09 per share. 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. This represents a dividend yield of 1.68%. 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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