Melco Crown Entertainment Limited (MLCO) Shares Gap Up to $23.01

Shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) gapped up before the market opened on Tuesday . The stock had previously closed at $22.52, but opened at $23.01. Melco Crown Entertainment Limited shares last traded at $23.78, with a volume of 3,722,803 shares changing hands.

Several analysts have commented on the stock. Nomura raised shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $29.00 in a research report on Tuesday. Instinet raised shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating and increased their price target for the company from $20.00 to $29.00 in a research report on Tuesday. Zacks Investment Research lowered shares of Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research report on Tuesday. Macquarie decreased their price target 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. Finally, TheStreet lowered shares of Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a research report on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $22.98.

The company has a market cap of $11.63 billion, a PE ratio of 46.09 and a beta of 1.86. The stock’s 50-day moving average is $21.09 and its 200-day moving average is $20.79.

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

The firm also recently announced a None dividend, which was paid on Wednesday, August 23rd. Investors of record on Tuesday, August 8th were paid a dividend of $0.089 per share. This is a boost from Melco Crown Entertainment Limited’s previous None dividend of $0.02. The ex-dividend date was Friday, August 4th. Melco Crown Entertainment Limited’s payout ratio is presently 57.69%.

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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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