Investors Buy Shares of Melco Crown Entertainment Limited (MLCO) on Weakness

Investors purchased shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) on weakness during trading hours on Tuesday. $41.83 million flowed into the stock on the tick-up and $8.95 million flowed out of the stock on the tick-down, for a money net flow of $32.88 million into the stock. Of all equities tracked, Melco Crown Entertainment Limited had the 24th highest net in-flow for the day. Melco Crown Entertainment Limited traded down ($0.05) for the day and closed at $20.80

MLCO has been the topic of a number of recent analyst reports. Macquarie lowered their price target on shares of Melco Crown Entertainment Limited from $26.00 to $25.80 and set an “outperform” rating on the stock in a research note on Friday. UBS AG restated a “buy” rating on shares of Melco Crown Entertainment Limited in a report on Monday, July 10th. Aegis increased their target price on shares of Melco Crown Entertainment Limited from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Zacks Investment Research raised shares of Melco Crown Entertainment Limited from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Wednesday, April 26th. Finally, TheStreet raised shares of Melco Crown Entertainment Limited from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $21.52.

The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 40.00 and a beta of 1.91. The firm has a 50 day moving average price of $21.15 and a 200-day moving average price of $20.23.

Melco Crown Entertainment Limited (NASDAQ:MLCO) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.16 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.04. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.25 billion. Melco Crown Entertainment Limited had a return on equity of 9.20% and a net margin of 5.11%. The firm’s quarterly revenue was up 21.3% on a year-over-year basis. On average, analysts expect that Melco Crown Entertainment Limited will post $0.80 EPS for the current fiscal year.

The firm also recently declared a None dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Tuesday, August 8th will be given a $0.089 dividend. This is an increase from Melco Crown Entertainment Limited’s previous None dividend of $0.02. The ex-dividend date of this dividend is Friday, August 4th. Melco Crown Entertainment Limited’s payout ratio is currently 57.69%.

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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.

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