Melco Crown Entertainment Ltd. (MPEL) Stock Price Up 4.8%
Shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) rose 4.8% during mid-day trading on Monday . The company traded as high as $15.47 and last traded at $15.46, with a volume of 2,747,004 shares traded. The stock had previously closed at $14.75.
MPEL has been the topic of a number of analyst reports. HSBC lowered Melco Crown Entertainment from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Zacks Investment Research raised Melco Crown Entertainment from a “sell” rating to a “hold” rating in a research report on Thursday, April 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Melco Crown Entertainment in a research report on Thursday, May 5th. Nomura dropped their target price on Melco Crown Entertainment from $16.00 to $14.00 and set a “reduce” rating on the stock in a research report on Thursday, May 5th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Melco Crown Entertainment in a research note on Monday, May 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $17.69.
The firm’s 50 day moving average price is $13.29 and its 200-day moving average price is $14.61. The firm has a market cap of $7.79 billion and a P/E ratio of 89.24.
Melco Crown Entertainment (NASDAQ:MPEL) last released its earnings results on Thursday, August 4th. The company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm earned $0.05 EPS. The firm’s revenue was up 16.7% on a year-over-year basis. Equities analysts forecast that Melco Crown Entertainment Ltd. will post $0.28 EPS for the current year.
The company also recently announced a dividend, which will be paid on Wednesday, September 7th. Shareholders of record on Tuesday, August 16th will be given a dividend of $0.019 per share. The ex-dividend date is Friday, August 12th.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Airain ltd purchased a new position in Melco Crown Entertainment during the fourth quarter worth $1,089,000. Bank of Montreal Can raised 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 in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of 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.
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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