Melco Crown Entertainment Ltd. (MPEL) Trading 5.6% Higher
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) traded up 5.6% during trading on Tuesday . The stock traded as high as $13.77 and last traded at $13.64, with a volume of 2,841,509 shares changing hands. The stock had previously closed at $12.92.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Melco Crown Entertainment from a “sell” rating to a “hold” rating in a report on Thursday, April 21st. HSBC downgraded shares of Melco Crown Entertainment from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Sterne Agee CRT reissued a “buy” rating and issued a $20.00 price target (down from $22.50) on shares of Melco Crown Entertainment in a report on Monday, April 18th. Deutsche Bank AG reissued a “hold” rating on shares of Melco Crown Entertainment in a report on Friday, April 1st. Finally, Credit Suisse Group AG downgraded shares of Melco Crown Entertainment from an “outperform” rating to a “neutral” rating in a report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $18.78.
The company’s 50-day moving average price is $13.03 and its 200 day moving average price is $14.61. The firm has a market cap of $7.43 billion and a price-to-earnings ratio of 88.27.
Melco Crown Entertainment (NASDAQ:MPEL) last posted its earnings results on Wednesday, May 4th. The company reported $0.07 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The firm earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.14 billion. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. On average, equities analysts predict that Melco Crown Entertainment Ltd. will post $0.33 EPS for the current fiscal year.
A number of hedge funds recently bought and sold shares of MPEL. Airain ltd bought a new stake in Melco Crown Entertainment during the fourth quarter valued at approximately $1,089,000. State of Wisconsin Investment Board bought a new stake in Melco Crown Entertainment during the fourth quarter valued at approximately $1,386,000. Bank of Montreal Can increased its stake 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 in the last quarter. Mizuho Trust & Banking Co. Ltd. bought a new stake in Melco Crown Entertainment during the fourth quarter valued at approximately $2,453,000. Finally, Nationwide Fund Advisors increased its stake in Melco Crown Entertainment by 17.8% in the fourth quarter. Nationwide Fund Advisors now owns 206,581 shares of the company’s stock valued at $3,471,000 after buying an additional 31,281 shares in the last quarter.
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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