Melco Crown Entertainment Ltd. (MPEL) Trading 2.4% Higher
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) traded 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 traded. The stock had previously closed at $13.14.
Several equities research analysts have recently weighed in on the company. BNP Paribas reissued a “sell” rating on shares of Melco Crown Entertainment in a research note on Sunday. Zacks Investment Research lowered Melco Crown Entertainment from a “hold” rating to a “sell” rating in a research note on Friday, August 12th. Buckingham Research assumed coverage on Melco Crown Entertainment in a research note on Thursday, August 11th. They set a “neutral” rating and a $15.50 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Melco Crown Entertainment from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, August 5th. Finally, HSBC raised Melco Crown Entertainment from a “hold” rating to a “buy” rating in a research note on Tuesday, July 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Melco Crown Entertainment presently has an average rating of “Hold” and an average price target of $17.69.
The firm’s 50-day moving average is $13.54 and its 200-day moving average is $14.62. The company has a market cap of $6.81 billion and a P/E ratio of 77.97.
Melco Crown Entertainment (NASDAQ:MPEL) last released its earnings results on Thursday, August 4th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The business 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 firm posted $0.05 EPS. Melco Crown Entertainment’s revenue was up 16.7% on a year-over-year basis. Equities research analysts anticipate that Melco Crown Entertainment Ltd. will post $0.28 EPS for the current year.
The firm also recently announced a dividend, which will be paid on Wednesday, September 7th. Shareholders of record on Tuesday, August 16th will be issued a dividend of $0.019 per share. The ex-dividend date of this dividend is Friday, August 12th.
An institutional investor recently bought a new position in Melco Crown Entertainment stock. Airain ltd bought a new position in Melco Crown Entertainment Ltd. (NASDAQ:MPEL) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 64,839 shares of the company’s stock, valued at approximately $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.