Melco Crown Entertainment Ltd. (MPEL) Shares Gap Up to $12.98
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) gapped up before the market opened on Thursday . The stock had previously closed at $12.75, but opened at $12.98. Melco Crown Entertainment shares last traded at $13.90, with a volume of 2,154,557 shares trading hands.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Melco Crown Entertainment from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Nomura decreased their price target on shares of Melco Crown Entertainment from $16.00 to $14.00 and set a “reduce” rating for the company in a report on Thursday, May 5th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Melco Crown Entertainment in a report on Saturday, June 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Melco Crown Entertainment in a report on Thursday, May 5th. Finally, Buckingham Research initiated coverage on shares of Melco Crown Entertainment in a research report on Thursday, August 11th. They issued a “neutral” rating and a $15.50 price objective on the stock. Three investment 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. Melco Crown Entertainment has a consensus rating of “Hold” and an average target price of $17.69.
The company has a 50 day moving average price of $13.62 and a 200-day moving average price of $14.60. The firm has a market cap of $7.08 billion and a price-to-earnings ratio of 81.05.
Melco Crown Entertainment (NASDAQ:MPEL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The business earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. Analysts predict that Melco Crown Entertainment Ltd. will post $0.28 earnings per share for the current fiscal year.
The firm also recently declared a dividend, which will be paid on Wednesday, September 7th. Shareholders of record on Tuesday, August 16th will be issued a $0.019 dividend. The ex-dividend date is Friday, August 12th.
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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