Melco Crown Entertainment Ltd. (MPEL) Stock Price Down 3.7%
Melco Crown Entertainment Ltd. (NASDAQ:MPEL)’s share price fell 3.7% during mid-day trading on Wednesday . The company traded as low as $14.72 and last traded at $14.78, with a volume of 2,080,778 shares traded. The stock had previously closed at $15.35.
A number of brokerages recently issued reports on MPEL. Zacks Investment Research upgraded Melco Crown Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. HSBC cut Melco Crown Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Nomura cut their target price on Melco Crown Entertainment from $16.00 to $14.00 and set a “reduce” rating on the stock in a report on Thursday, May 5th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Melco Crown Entertainment in a report on Thursday, May 5th. Finally, Sterne Agee CRT reiterated a “buy” rating on shares of Melco Crown Entertainment in a report on Monday, May 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Melco Crown Entertainment has a consensus rating of “Hold” and an average target price of $17.69.
The firm has a 50 day moving average of $13.29 and a 200 day moving average of $14.61. The stock has a market capitalization of $7.51 billion and a P/E ratio of 85.99.
Melco Crown Entertainment (NASDAQ:MPEL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.06 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Melco Crown Entertainment’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 earnings per share. On average, equities research analysts forecast that Melco Crown Entertainment Ltd. will post $0.28 earnings per share for the current year.
The company also recently declared a dividend, which will be paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th will be paid a $0.019 dividend. The ex-dividend date is Friday, August 12th.
A number of large investors have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of 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. Schroder Investment Management Group boosted its stake 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 in the last quarter. Finally, Airain ltd bought a new stake in Melco Crown Entertainment during the fourth quarter worth approximately $1,089,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.