Melco Crown Entertainment Ltd. (MPEL) Trading 4.8% Higher
Shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) traded up 4.8% on Monday . The company traded as high as $15.47 and last traded at $15.46, with a volume of 2,747,004 shares trading hands. The stock had previously closed at $14.75.
A number of analysts have weighed in on the company. 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. Zacks Investment Research cut Melco Crown Entertainment from a “buy” rating to a “hold” rating in a research note on Tuesday, August 2nd. Nomura cut their price target on Melco Crown Entertainment from $16.00 to $14.00 and set a “reduce” rating on the stock in a research note on Thursday, May 5th. Wells Fargo & Co. restated a “hold” rating on shares of Melco Crown Entertainment in a research note on Saturday, June 4th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Melco Crown Entertainment in a research report on Thursday, May 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.69.
The firm has a market cap of $7.88 billion and a P/E ratio of 90.23. The firm’s 50 day moving average price is $13.12 and its 200 day moving average price is $14.60.
Melco Crown Entertainment (NASDAQ:MPEL) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same period in the previous year, the company earned $0.05 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Melco Crown Entertainment Ltd. will post $0.28 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Wednesday, September 7th. Shareholders of record on Tuesday, August 16th will be given a $0.019 dividend. The ex-dividend date of this dividend is Friday, August 12th.
A number of institutional investors have recently bought and sold shares of MPEL. Airain ltd purchased a new position in Melco Crown Entertainment during the fourth quarter worth $1,089,000. Schroder Investment Management Group boosted its position in Melco Crown Entertainment by 87.4% in the fourth quarter. Schroder Investment Management Group now owns 1,685,606 shares of the company’s stock worth $28,318,000 after buying an additional 786,106 shares during the last quarter. Bank of Montreal Can boosted 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 worth $1,793,000 after buying an additional 989 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. purchased a new position in Melco Crown Entertainment during the fourth quarter worth $2,453,000.
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. The Company 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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