Zacks Investment Research upgraded shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) from a hold rating to a buy rating in a report released on Thursday morning. They currently have $28.00 target price 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 several other reports. Roth Capital started coverage on Melco Crown Entertainment Limited in a report on Wednesday, November 1st. They issued a buy rating and a $34.00 price objective for the company. Sanford C. Bernstein reaffirmed an outperform rating on shares of Melco Crown Entertainment Limited in a report on Wednesday, July 12th. TheStreet cut Melco Crown Entertainment Limited from a b- rating to a c+ rating in a report on Thursday, July 27th. Instinet raised Melco Crown Entertainment Limited from a neutral rating to a buy rating and lifted their price objective for the company from $20.00 to $29.00 in a report on Tuesday, September 19th. Finally, Nomura lifted their price objective on Melco Crown Entertainment Limited from $29.00 to $33.00 and gave the company a buy rating in a report on Friday, November 3rd. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Melco Crown Entertainment Limited has an average rating of Buy and an average target price of $24.83.

Shares of Melco Crown Entertainment Limited (MLCO) traded down $0.03 during midday trading on Thursday, reaching $25.20. The company’s stock had a trading volume of 1,524,000 shares, compared to its average volume of 3,799,611. The firm has a market cap of $12,400.00, a PE ratio of 30.04, a PEG ratio of 1.04 and a beta of 1.92. 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.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date 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 is presently 47.62%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. increased its holdings in Melco Crown Entertainment Limited by 17.2% in the 3rd quarter. Advisor Group Inc. now owns 15,863 shares of the company’s stock worth $383,000 after purchasing an additional 2,324 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Melco Crown Entertainment Limited in the 3rd quarter worth about $112,000. LS Investment Advisors LLC acquired a new position in Melco Crown Entertainment Limited in the 3rd quarter worth about $129,000. Nordea Investment Management AB acquired a new position in Melco Crown Entertainment Limited in the 3rd quarter worth about $136,000. Finally, Cavalier Investments LLC acquired a new position in Melco Crown Entertainment Limited in the 3rd quarter worth about $205,000. 39.33% of the stock is owned by institutional investors and hedge funds.

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.

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

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