Melco Crown Entertainment Limited (MLCO) Stock Rating Upgraded by Instinet

Melco Crown Entertainment Limited (NASDAQ:MLCO) was upgraded by research analysts at Instinet from a “neutral” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $29.00 target price on the stock, up from their prior target price of $20.00. Instinet’s price target points to a potential upside of 21.95% from the company’s current price.

MLCO has been the topic of a number of other reports. Macquarie cut their price target on Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating on the stock in a report on Friday, August 18th. UBS AG reiterated a “buy” rating on shares of Melco Crown Entertainment Limited in a report on Monday, July 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Melco Crown Entertainment Limited in a report on Wednesday, May 24th. Zacks Investment Research downgraded Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, TheStreet downgraded Melco Crown Entertainment Limited from a “b-” rating to a “c+” rating in a report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $22.98.

Shares of Melco Crown Entertainment Limited (MLCO) opened at 23.78 on Tuesday. Melco Crown Entertainment Limited has a 1-year low of $14.89 and a 1-year high of $24.51. The stock has a market capitalization of $11.63 billion, a PE ratio of 46.09 and a beta of 1.86. The stock has a 50 day moving average price of $21.09 and a 200-day moving average price of $20.79.

Melco Crown Entertainment Limited (NASDAQ:MLCO) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.04). Melco Crown Entertainment Limited had a net margin of 5.11% and a return on equity of 9.20%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.25 billion. The company’s revenue was up 21.3% on a year-over-year basis. On average, 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.

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

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