Melco Crown Entertainment Ltd. (MPEL) Sees Strong Trading Volume
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) saw strong trading volume on Friday . 2,917,000 shares were traded 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.
Several equities analysts recently commented on the company. Zacks Investment Research downgraded Melco Crown Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. Buckingham Research assumed coverage on Melco Crown Entertainment in a research report on Thursday, August 11th. They set a “neutral” rating and a $15.50 target price for the company. JPMorgan Chase & Co. cut their target price on Melco Crown Entertainment from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, August 5th. HSBC upgraded Melco Crown Entertainment from a “hold” rating to a “buy” rating in a research report on Tuesday, July 19th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $13.40 target price on shares of Melco Crown Entertainment in a research report on Thursday, July 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $17.69.
The company has a 50 day moving average price of $13.44 and a 200 day moving average price of $14.60. The company has a market capitalization of $6.80 billion and a price-to-earnings ratio of 77.91.
Melco Crown Entertainment (NASDAQ:MPEL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.06. The company 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 company earned $0.05 EPS. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities analysts anticipate that Melco Crown Entertainment Ltd. will post $0.28 EPS for the current year.
The business also recently declared a dividend, which will be paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th will be given a dividend of $0.019 per share. The ex-dividend date is Friday, August 12th.
A number of large investors recently modified their holdings of the company. Bank of Montreal Can increased 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 worth $1,793,000 after buying an additional 989 shares in the last quarter. Schroder Investment Management Group increased its stake 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. Finally, Airain ltd acquired a new stake in shares of Melco Crown Entertainment during the fourth quarter worth $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.
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