Melco Crown Entertainment Ltd. (NASDAQ:MPEL) has received an average recommendation of “Hold” from the seventeen brokerages that are covering the firm. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $15.95.
A number of analysts have recently weighed in on the stock. Deutsche Bank AG raised shares of Melco Crown Entertainment from a “hold” rating to a “buy” rating and upped their price target for the stock from $14.00 to $17.00 in a report on Friday, September 9th. Macquarie initiated coverage on shares of Melco Crown Entertainment in a report on Thursday, September 8th. They set an “outperform” rating for the company. BNP Paribas reiterated a “sell” rating on shares of Melco Crown Entertainment in a research report on Sunday, August 28th. Zacks Investment Research cut shares of Melco Crown Entertainment from a “hold” rating to a “sell” rating in a research report on Friday, August 12th. Finally, Buckingham Research initiated coverage on shares of Melco Crown Entertainment in a research report on Thursday, August 11th. They set a “neutral” rating and a $15.50 price objective for the company.
Shares of Melco Crown Entertainment (NASDAQ:MPEL) traded up 0.528% during trading on Monday, reaching $16.195. 5,019,671 shares of the company’s stock were exchanged. Melco Crown Entertainment has a 52-week low of $11.91 and a 52-week high of $20.23. The stock has a market cap of $8.22 billion, a PE ratio of 94.157 and a beta of 2.44. The stock’s 50 day moving average price is $14.82 and its 200-day moving average price is $14.57.
Melco Crown Entertainment (NASDAQ:MPEL) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.06 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.06. Melco Crown Entertainment had a net margin of 2.12% and a return on equity of 3.79%. The company earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities research analysts forecast that Melco Crown Entertainment will post $0.30 EPS for the current year.
The business also recently announced a dividend, which was paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th were paid a dividend of $0.019 per share. The ex-dividend date of this dividend was Friday, August 12th. Melco Crown Entertainment’s dividend payout ratio is presently 23.53%.
A number of hedge funds and other institutional investors have recently modified their holdings of MPEL. Daiwa Securities Group Inc. raised 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 valued at $109,000 after buying an additional 1,200 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Melco Crown Entertainment during the second quarter valued at about $143,000. Principal Financial Group Inc. bought a new position in shares of Melco Crown Entertainment during the second quarter valued at about $165,000. Prudential Financial Inc. raised 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 valued at $172,000 after buying an additional 2,985 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of Melco Crown Entertainment during the second quarter valued at about $181,000. 27.77% of the stock is currently owned by institutional investors and hedge funds.
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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