Melco Crown Entertainment Ltd. (MPEL) Trading Up 2.4%
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) shares were up 2.4% on Tuesday . The stock traded as high as $13.48 and last traded at $13.46, with a volume of 1,229,187 shares trading hands. The stock had previously closed at $13.14.
Several research analysts have weighed in on MPEL shares. JPMorgan Chase & Co. cut their price target on Melco Crown Entertainment from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Friday, August 5th. Sterne Agee CRT reiterated a “buy” rating on shares of Melco Crown Entertainment in a report on Monday, May 16th. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Melco Crown Entertainment in a report on Monday, May 9th. Credit Suisse Group AG restated a “neutral” rating on shares of Melco Crown Entertainment in a report on Thursday, May 19th. Finally, Zacks Investment Research downgraded Melco Crown Entertainment from a “hold” rating to a “sell” rating in a report on Friday, August 12th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $17.69.
The firm’s 50-day moving average price is $13.57 and its 200-day moving average price is $14.60. The stock has a market capitalization of $6.59 billion and a P/E ratio of 75.47.
Melco Crown Entertainment (NASDAQ:MPEL) last issued its earnings results on Thursday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. During the same period last year, the business earned $0.05 EPS. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts predict that Melco Crown Entertainment Ltd. will post $0.28 earnings per share for the current year.
The business also recently announced a dividend, which will be paid on Wednesday, September 7th. Shareholders of record on Tuesday, August 16th will be paid a dividend of $0.019 per share. The ex-dividend date of this dividend 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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