Zacks Investment Research lowered shares of Melco Crown Entertainment Limited (NASDAQ:MLCO) from a buy rating to a hold rating in a research report report published on Tuesday morning.

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. “

Other equities research analysts have also issued research reports about the company. UBS AG reaffirmed a buy rating on shares of Melco Crown Entertainment Limited in a research report on Monday, July 10th. TheStreet lowered Melco Crown Entertainment Limited from a b- rating to a c+ rating in a research report on Thursday, July 27th. Instinet reaffirmed a neutral rating and set a $20.00 price target (up previously from $19.00) on shares of Melco Crown Entertainment Limited in a research report on Monday, June 19th. Macquarie dropped their price target on Melco Crown Entertainment Limited from $26.00 to $25.80 and set an outperform rating on the stock in a research report on Friday, August 18th. Finally, Sanford C. Bernstein reaffirmed an outperform rating on shares of Melco Crown Entertainment Limited in a research report on Wednesday, July 12th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $22.98.

Melco Crown Entertainment Limited (MLCO) opened at 23.53 on Tuesday. Melco Crown Entertainment Limited has a 1-year low of $14.89 and a 1-year high of $23.94. The firm’s 50-day moving average price is $21.09 and its 200 day moving average price is $20.79. The stock has a market cap of $11.51 billion, a PE ratio of 45.60 and a beta of 1.86.

Melco Crown Entertainment Limited (NASDAQ:MLCO) last released 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). 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 analyst estimates of $1.25 billion. Melco Crown Entertainment Limited’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts expect that Melco Crown Entertainment Limited will post $0.84 EPS for the current year.

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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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