Zacks Investment Research downgraded shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) from a buy rating to a hold rating in a research report report published 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 have also issued reports on the company. Nomura raised Melco Crown Entertainment Limited from a neutral rating to a buy rating and lifted their target price for the stock from $20.00 to $29.00 in a report on Tuesday, September 19th. Instinet raised Melco Crown Entertainment Limited from a neutral rating to a buy rating and lifted their price target for the stock from $20.00 to $29.00 in a research note on Tuesday, September 19th. Roth Capital began coverage on Melco Crown Entertainment Limited in a research report on Wednesday, November 1st. They set a buy rating and a $34.00 price objective for the company. TheStreet lowered Melco Crown Entertainment Limited from a b- rating to a c+ rating in a research report on Thursday, July 27th. Finally, Macquarie reduced their price target on Melco Crown Entertainment Limited from $26.00 to $25.80 and set an outperform rating for the company in a report on Friday, August 18th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $24.83.

Melco Crown Entertainment Limited (NASDAQ MLCO) traded down $0.03 during trading hours on Friday, reaching $25.20. The company had a trading volume of 1,524,000 shares, compared to its average volume of 3,799,611. The firm has a market capitalization of $12,397.77, a price-to-earnings ratio of 30.00, a P/E/G ratio of 1.04 and a beta of 1.92. Melco Crown Entertainment Limited has a 1 year low of $14.89 and a 1 year high of $26.54. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.14.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Tuesday, November 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.36 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Melco Crown Entertainment Limited’s previous quarterly dividend of $0.03. Melco Crown Entertainment Limited’s payout ratio is currently 48.39%.

Institutional investors have recently bought and sold shares of the business. Advisor Group Inc. lifted its stake in shares of Melco Crown Entertainment Limited by 17.2% during the third quarter. Advisor Group Inc. now owns 15,863 shares of the company’s stock valued at $383,000 after acquiring an additional 2,324 shares during the period. Canada Pension Plan Investment Board bought a new stake in Melco Crown Entertainment Limited in the third quarter valued at about $112,000. LS Investment Advisors LLC bought a new stake in Melco Crown Entertainment Limited in the third quarter valued at about $129,000. Nordea Investment Management AB bought a new stake in Melco Crown Entertainment Limited in the third quarter valued at about $136,000. Finally, Hartford Investment Management Co. bought a new stake in Melco Crown Entertainment Limited in the third quarter valued at about $203,000. 40.12% of the stock is currently owned by institutional investors.

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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