Melco Crown Entertainment Ltd. (MPEL) Sees Large Volume Increase
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) saw strong trading volume on Friday . 2,917,000 shares traded hands during trading, a decline of 1% from the previous session’s volume of 2,940,227 shares.The stock last traded at $13.89 and had previously closed at $14.64.
A number of research analysts recently issued reports on the company. Wells Fargo & Co. restated a “hold” rating on shares of Melco Crown Entertainment in a research note on Saturday, June 4th. Credit Suisse Group AG reiterated a “hold” rating and issued a $13.40 target price on shares of Melco Crown Entertainment in a research note on Thursday, July 7th. Buckingham Research assumed coverage on Melco Crown Entertainment in a research note on Thursday, August 11th. They issued a “neutral” rating and a $15.50 target price on the stock. Daiwa Capital Markets downgraded Melco Crown Entertainment from an “outperform” rating to a “hold” rating in a research note on Friday, June 3rd. Finally, Morgan Stanley downgraded Melco Crown Entertainment from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $16.50 to $15.50 in a research note on Thursday, June 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $17.69.
The stock has a market capitalization of $6.80 billion and a PE ratio of 77.91. The stock has a 50-day moving average of $13.41 and a 200 day moving average of $14.61.
Melco Crown Entertainment (NASDAQ:MPEL) last posted its earnings results on Thursday, August 4th. The company reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company posted $0.05 earnings per share. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities analysts predict that Melco Crown Entertainment Ltd. will post $0.28 EPS for the current year.
The business also recently announced a dividend, which will be paid on Wednesday, September 7th. Stockholders of record on Tuesday, August 16th will be issued a dividend of $0.019 per share. The ex-dividend date of this dividend is Friday, August 12th.
Several institutional investors recently bought and sold shares of the stock. Airain ltd bought a new position in Melco Crown Entertainment during the fourth quarter valued at approximately $1,089,000. Schroder Investment Management Group raised 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 valued at $28,318,000 after buying an additional 786,106 shares during the period. Finally, 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 valued at $1,793,000 after buying an additional 989 shares during the period.
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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