Melco Crown Entertainment Ltd. (NASDAQ:MPEL)‘s stock had its “neutral” rating restated by analysts at Wells Fargo & Co. in a note issued to investors on Monday.

A number of other research firms have also issued reports on MPEL. JPMorgan Chase & Co. cut their price target on shares of Melco Crown Entertainment from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Friday, August 5th. Macquarie initiated coverage on shares of Melco Crown Entertainment in a research report on Thursday, September 8th. They set an “outperform” rating on the stock. Zacks Investment Research downgraded shares of 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 investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Melco Crown Entertainment has an average rating of “Hold” and a consensus target price of $16.97.

Analyst Recommendations for Melco Crown Entertainment (NASDAQ:MPEL)

Shares of Melco Crown Entertainment (NASDAQ:MPEL) opened at 16.80 on Monday. Melco Crown Entertainment has a 12 month low of $11.91 and a 12 month high of $20.23. The company’s 50-day moving average is $15.03 and its 200-day moving average is $14.57. The firm has a market cap of $8.53 billion, a price-to-earnings ratio of 97.67 and a beta of 2.44.

Melco Crown Entertainment (NASDAQ:MPEL) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.06 earnings per share (EPS) for the quarter, meeting 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the business earned $0.05 earnings per share. The firm’s revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Melco Crown Entertainment will post $0.29 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Aviva PLC increased its stake in Melco Crown Entertainment by 0.4% in the first quarter. Aviva PLC now owns 45,400 shares of the company’s stock valued at $750,000 after buying an additional 200 shares in the last quarter. Hanson & Doremus Investment Management boosted its position in Melco Crown Entertainment by 1.4% in the second quarter. Hanson & Doremus Investment Management now owns 45,545 shares of the company’s stock valued at $573,000 after buying an additional 645 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in 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 during the last quarter. Mckinley Capital Management LLC Delaware boosted its position in Melco Crown Entertainment by 3.8% in the second quarter. Mckinley Capital Management LLC Delaware now owns 70,698 shares of the company’s stock valued at $889,000 after buying an additional 2,569 shares during the last quarter. Finally, Comerica Bank boosted its position in Melco Crown Entertainment by 9.3% in the second quarter. Comerica Bank now owns 33,588 shares of the company’s stock valued at $488,000 after buying an additional 2,862 shares during the last quarter. 27.77% of the stock is owned by institutional investors and hedge funds.

About Melco Crown Entertainment

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.

5 Day Chart for NASDAQ:MPEL

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