Shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) dropped 0.5% during trading on Friday . The stock traded as low as $11.97 and last traded at $12.03, with a volume of 2,772,745 shares trading hands. The stock had previously closed at $12.09.

MPEL has been the topic of several recent analyst reports. Macquarie upgraded Melco Crown Entertainment from an “underperform” rating to a “neutral” rating in a research note on Thursday, March 17th. Deutsche Bank AG restated a “hold” rating on shares of Melco Crown Entertainment in a research note on Friday, April 1st. Credit Suisse Group AG downgraded Melco Crown Entertainment from an “outperform” rating to a “neutral” rating in a research note on Monday, April 4th. Sterne Agee CRT restated a “buy” rating and issued a $20.00 price target (down from $22.50) on shares of Melco Crown Entertainment in a research note on Monday, April 18th. Finally, HSBC downgraded Melco Crown Entertainment from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $19.18.

The firm has a market cap of $6.45 billion and a price-to-earnings ratio of 76.60. The company’s 50 day moving average price is $13.58 and its 200-day moving average price is $14.93.

Melco Crown Entertainment (NASDAQ:MPEL) last released its earnings results on Wednesday, May 4th. The company reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. During the same period in the previous year, the company earned $0.11 earnings per share. The firm earned $1.10 billion during the quarter, compared to analyst estimates of $1.14 billion. Melco Crown Entertainment’s revenue was up 4.7% on a year-over-year basis. Equities analysts predict that Melco Crown Entertainment Ltd. will post $0.33 EPS for the current year.

Other institutional investors have recently added to or reduced their stakes in the company. Korea Investment CORP purchased a new position in Melco Crown Entertainment during the fourth quarter valued at about $1,285,000. State of Wisconsin Investment Board purchased a new position in Melco Crown Entertainment during the fourth quarter valued at about $1,386,000. Bank of Montreal Can increased its position in Melco Crown Entertainment by 0.9% in the fourth quarter. Bank of Montreal Can now owns 106,721 shares of the company’s stock valued at $1,793,000 after buying an additional 989 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. purchased a new position in Melco Crown Entertainment during the fourth quarter valued at about $2,453,000. Finally, Nationwide Fund Advisors increased its position in Melco Crown Entertainment by 17.8% in the fourth quarter. Nationwide Fund Advisors now owns 206,581 shares of the company’s stock valued at $3,471,000 after buying an additional 31,281 shares during the last quarter.

Melco Crown Entertainment Limited is a developer, owner and operator of casino gaming and entertainment resort facilities. The Company is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in two geographic areas: Macau and the Philippines.

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