Melco Crown Entertainment Ltd. (MPEL) Shares Gap Up to $12.98
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) shares gapped up prior to trading 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 firms have weighed in on MPEL. Sterne Agee CRT reiterated a “buy” rating on shares of Melco Crown Entertainment in a research note on Monday, May 16th. Zacks Investment Research lowered shares of Melco Crown Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, August 12th. Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Melco Crown Entertainment in a research note on Monday, May 9th. Buckingham Research began coverage on shares of Melco Crown Entertainment in a research note on Thursday, August 11th. They issued a “neutral” rating and a $15.50 price objective on the stock. Finally, Morgan Stanley lowered shares of Melco Crown Entertainment from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $16.50 to $15.50 in a research note on Thursday, June 2nd. Three equities research 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. The stock currently has an average rating of “Hold” and an average target price of $17.69.
The stock’s 50-day moving average price is $13.67 and its 200-day moving average price is $14.59. The stock has a market cap of $7.16 billion and a price-to-earnings ratio of 82.03.
Melco Crown Entertainment (NASDAQ:MPEL) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. The firm’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. Equities research analysts anticipate that Melco Crown Entertainment Ltd. will post $0.28 earnings per share for the current fiscal year.
The company also recently disclosed a dividend, which will be paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th will be paid a dividend of $0.019 per share. 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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