Several other research firms also recently weighed in on MPEL. JPMorgan Chase & Co. dropped their price target on Melco Crown Entertainment from $16.00 to $14.00 and set a neutral rating for the company in a research report on Friday, August 5th. Macquarie began coverage on Melco Crown Entertainment in a research report on Thursday, September 8th. They issued an outperform rating for the company. Zacks Investment Research downgraded Melco Crown Entertainment from a hold rating to a sell rating in a research report on Friday, August 12th. BNP Paribas reaffirmed a sell rating on shares of Melco Crown Entertainment in a research report on Sunday, August 28th. Finally, Goldman Sachs Group Inc. reaffirmed a neutral rating on shares of Melco Crown Entertainment in a research report on Wednesday, October 5th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Melco Crown Entertainment has a consensus rating of Hold and an average price target of $16.38.
Shares of Melco Crown Entertainment (NASDAQ:MPEL) opened at 15.76 on Monday. The firm has a 50-day moving average price of $15.38 and a 200-day moving average price of $14.57. Melco Crown Entertainment has a 52-week low of $11.91 and a 52-week high of $20.23. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 91.63 and a beta of 2.45.
Melco Crown Entertainment (NASDAQ:MPEL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. The company earned $1.07 billion during 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%. Melco Crown Entertainment’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Analysts predict that Melco Crown Entertainment will post $0.29 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. boosted 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 in the last quarter. CIBC Asset Management Inc acquired a new position in Melco Crown Entertainment during the second quarter valued at approximately $143,000. Principal Financial Group Inc. acquired a new position in Melco Crown Entertainment during the second quarter valued at approximately $165,000. Prudential Financial Inc. boosted its position in Melco Crown Entertainment by 27.8% in the second quarter. Prudential Financial Inc. now owns 13,709 shares of the company’s stock valued at $172,000 after buying an additional 2,985 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new position in Melco Crown Entertainment during the second quarter valued at approximately $181,000. Institutional investors 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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