According to Zacks, “Melco Crown Entertainment Limited is an owner and developer of casino gaming and entertainment resort facilities primarily in Macau. It owns and operates City of Dreams, Altira Macau and Mocha Clubs. The Company’s Development Project includes Macau Studio City Project. Melco Crown Entertainment Limited, formerly known as Melco PBL Entertainment (Macau) Limited, is headquartered in Macau. “
A number of other brokerages also recently issued reports on MPEL. Goldman Sachs Group Inc. reaffirmed a neutral rating on shares of Melco Crown Entertainment in a research report on Wednesday. Deutsche Bank AG raised shares of Melco Crown Entertainment from a hold rating to a buy rating and boosted their price objective for the company from $14.00 to $17.00 in a report on Friday, September 9th. Macquarie started coverage on shares of Melco Crown Entertainment in a report on Thursday, September 8th. They set an outperform rating on the stock. Buckingham Research started coverage on shares of Melco Crown Entertainment in a report on Thursday, August 11th. They set a neutral rating and a $15.50 price objective on the stock. Finally, Sanford C. Bernstein reissued an outperform rating on shares of Melco Crown Entertainment in a report on Wednesday, June 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Melco Crown Entertainment currently has a consensus rating of Hold and an average target price of $17.76.
Shares of Melco Crown Entertainment (NASDAQ:MPEL) traded up 1.798% during trading on Thursday, reaching $16.817. The company had a trading volume of 3,406,904 shares. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 97.773 and a beta of 2.45. The company’s 50 day moving average is $14.97 and its 200-day moving average is $14.57. Melco Crown Entertainment has a 1-year low of $11.91 and a 1-year high of $20.23.
Melco Crown Entertainment (NASDAQ:MPEL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. Melco Crown Entertainment had a return on equity of 3.79% and a net margin of 2.12%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. On average, equities research analysts anticipate that Melco Crown Entertainment will post $0.29 earnings per share for the current year.
The company also recently disclosed a dividend, which was paid on Wednesday, September 7th. Shareholders of record on Tuesday, August 16th were given a $0.019 dividend. The ex-dividend date of this dividend was Friday, August 12th. Melco Crown Entertainment’s dividend payout ratio (DPR) is currently 23.53%.
Several hedge funds and other institutional investors have recently modified their holdings of MPEL. Daiwa Securities Group Inc. increased its position in shares of Melco Crown Entertainment by 16.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the company’s stock worth $109,000 after buying an additional 1,200 shares during the period. CIBC Asset Management Inc purchased a new position in shares of Melco Crown Entertainment during the second quarter worth $143,000. Principal Financial Group Inc. purchased a new position in shares of Melco Crown Entertainment during the second quarter worth $165,000. Prudential Financial Inc. increased its position in shares of Melco Crown Entertainment by 27.8% in the second quarter. Prudential Financial Inc. now owns 13,709 shares of the company’s stock worth $172,000 after buying an additional 2,985 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Melco Crown Entertainment during the second quarter worth $181,000. Institutional investors and hedge funds own 27.77% of the company’s stock.
Melco Crown Entertainment Company Profile
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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