Melco Crown Entertainment Ltd. (MPEL) Shares Down 3.2%
Melco Crown Entertainment Ltd. (NASDAQ:MPEL) shares were down 3.2% on Wednesday . The company traded as low as $12.96 and last traded at $12.98, with a volume of 2,157,259 shares trading hands. The stock had previously closed at $13.41.
A number of research analysts recently weighed in on MPEL shares. HSBC upgraded shares of Melco Crown Entertainment from a “hold” rating to a “buy” rating in a report on Tuesday, July 19th. Zacks Investment Research upgraded shares of Melco Crown Entertainment from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, July 19th. Sterne Agee CRT restated a “buy” rating on shares of Melco Crown Entertainment in a report on Monday, May 16th. Morgan Stanley cut 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 report on Thursday, June 2nd. Finally, Credit Suisse Group AG restated a “hold” rating and issued a $13.40 price objective on shares of Melco Crown Entertainment in a report on Thursday, July 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $17.69.
The firm has a market capitalization of $6.59 billion and a PE ratio of 75.47. The company’s 50 day moving average is $13.57 and its 200-day moving average is $14.60.
Melco Crown Entertainment (NASDAQ:MPEL) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The business earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the previous year, the business posted $0.05 EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Analysts forecast that Melco Crown Entertainment Ltd. will post $0.28 earnings per share for the current year.
The firm also recently declared a dividend, which will be paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th will be issued a $0.019 dividend. The ex-dividend date is Friday, August 12th.
A hedge fund recently bought a new stake in Melco Crown Entertainment stock. Airain ltd purchased a new stake in shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.