Melco Crown Entertainment Ltd. (MPEL) Downgraded to Sell at Zacks Investment Research
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. “
Other analysts also recently issued reports about the company. 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 target price on the stock. Credit Suisse Group AG reiterated a hold rating and set a $13.40 target price on shares of Melco Crown Entertainment in a research note on Thursday, July 7th. Goldman Sachs Group Inc. reiterated a neutral rating on shares of Melco Crown Entertainment in a research note on Wednesday. Macquarie assumed coverage on Melco Crown Entertainment in a research note on Thursday, September 8th. They set an outperform rating on the stock. Finally, JPMorgan Chase & Co. cut their target price on Melco Crown Entertainment from $16.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, August 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Melco Crown Entertainment presently has a consensus rating of Hold and an average price target of $17.76.
Melco Crown Entertainment (NASDAQ:MPEL) traded up 1.798% during mid-day trading on Thursday, hitting $16.817. The company had a trading volume of 3,406,904 shares. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 97.773 and a beta of 2.45. The firm’s 50 day moving average is $14.97 and its 200 day moving average is $14.57. Melco Crown Entertainment has a 52 week low of $11.91 and a 52 week high of $20.23.
Melco Crown Entertainment (NASDAQ:MPEL) last issued its earnings results on Thursday, August 4th. The company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. Melco Crown Entertainment had a return on equity of 3.79% and a net margin of 2.12%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the business posted $0.05 EPS. The company’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts predict that Melco Crown Entertainment will post $0.29 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 issued a $0.019 dividend. The ex-dividend date of this dividend was Friday, August 12th. Melco Crown Entertainment’s dividend payout ratio is currently 23.53%.
Institutional investors have recently made changes to their positions in the company. Nomura Holdings Inc. boosted its position in shares of Melco Crown Entertainment by 767.5% in the second quarter. Nomura Holdings Inc. now owns 127,313 shares of the company’s stock worth $1,619,000 after buying an additional 112,637 shares in the last quarter. Tobam boosted its position in shares of Melco Crown Entertainment by 25.6% in the second quarter. Tobam now owns 86,893 shares of the company’s stock worth $1,093,000 after buying an additional 17,722 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Melco Crown Entertainment by 148.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 57,669 shares of the company’s stock worth $726,000 after buying an additional 34,482 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund bought a new position in shares of Melco Crown Entertainment during the second quarter worth approximately $337,000. Finally, Legal & General Group Plc boosted its position in shares of Melco Crown Entertainment by 43.0% in the second quarter. Legal & General Group Plc now owns 65,478 shares of the company’s stock worth $824,000 after buying an additional 19,699 shares in the last quarter. 27.77% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Melco Crown Entertainment Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Melco Crown Entertainment Ltd. and related stocks with our FREE daily email newsletter.