Zacks: Analysts Expect Melco Crown Entertainment Limited (MLCO) Will Post Earnings of $0.12 Per Share

Brokerages forecast that Melco Crown Entertainment Limited (NASDAQ:MLCO) will post $0.12 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Melco Crown Entertainment Limited’s earnings, with the highest EPS estimate coming in at $0.20 and the lowest estimate coming in at $0.06. Melco Crown Entertainment Limited reported earnings of $0.05 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 140%. The business is expected to report its next quarterly earnings report on Thursday, August 3rd.

On average, analysts expect that Melco Crown Entertainment Limited will report full year earnings of $0.69 per share for the current fiscal year, with EPS estimates ranging from $0.39 to $0.87. For the next year, analysts anticipate that the firm will post earnings of $0.83 per share, with EPS estimates ranging from $0.61 to $1.05. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Melco Crown Entertainment Limited.

Melco Crown Entertainment Limited (NASDAQ:MLCO) last released its earnings results on Thursday, May 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.16. Melco Crown Entertainment Limited had a net margin of 5.23% and a return on equity of 7.43%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business earned $0.07 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis.

A number of research firms recently commented on MLCO. Vetr raised Melco Crown Entertainment Limited from a “buy” rating to a “strong-buy” rating and set a $19.43 price target for the company in a research report on Monday, February 20th. Aegis increased their price target on Melco Crown Entertainment Limited from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, May 15th. Zacks Investment Research lowered Melco Crown Entertainment Limited from a “buy” rating to a “hold” rating in a research report on Friday, February 24th. TheStreet raised Melco Crown Entertainment Limited from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. Finally, Wolfe Research reissued a “market perform” rating on shares of Melco Crown Entertainment Limited in a research report on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $19.96.

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Melco Crown Entertainment Limited (NASDAQ MLCO) traded down 0.83% during trading on Tuesday, hitting $22.70. 3,411,958 shares of the company traded hands. The firm has a market capitalization of $11.09 billion, a P/E ratio of 45.04 and a beta of 1.86. The stock has a 50-day moving average price of $22.30 and a 200-day moving average price of $18.82. Melco Crown Entertainment Limited has a 12-month low of $11.91 and a 12-month high of $23.94.

The firm also recently disclosed a special dividend, which was paid on Wednesday, May 31st. Shareholders of record on Tuesday, May 16th were paid a $0.09 dividend. This represents a yield of 1.68%. The ex-dividend date was Friday, May 12th. This is an increase from Melco Crown Entertainment Limited’s previous special dividend of $0.02. Melco Crown Entertainment Limited’s dividend payout ratio is 45.10%.

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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