Melco Crown Entertainment Ltd. (NASDAQ:MPEL) was upgraded by equities research analysts at Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a research note issued on Monday.

A number of other research firms have also recently commented on MPEL. Wells Fargo & Co. restated a “neutral” rating and issued a $17.00 price target (up from $13.00) on shares of Melco Crown Entertainment in a report on Monday, November 7th. Zacks Investment Research upgraded shares of Melco Crown Entertainment from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a report on Tuesday, November 8th. Goldman Sachs Group Inc. restated a “neutral” rating on shares of Melco Crown Entertainment in a report on Wednesday, October 5th. Deutsche Bank AG upgraded shares of Melco Crown Entertainment from a “hold” rating to a “buy” rating and raised their price target for the stock from $14.00 to $17.00 in a report on Friday, September 9th. Finally, Macquarie assumed coverage on shares of Melco Crown Entertainment in a report on Thursday, September 8th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $16.88.

Analyst Recommendations for Melco Crown Entertainment (NASDAQ:MPEL)

Shares of Melco Crown Entertainment (NASDAQ:MPEL) opened at 18.78 on Monday. The stock has a 50 day moving average of $0.00 and a 200-day moving average of $0.00. Melco Crown Entertainment has a one year low of $11.91 and a one year high of $19.05.

Melco Crown Entertainment (NASDAQ:MPEL) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.07. The business earned $1.15 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Melco Crown Entertainment had a net margin of 2.70% and a return on equity of 4.12%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the company posted $0.06 earnings per share. Analysts predict that Melco Crown Entertainment will post $0.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Tuesday, November 15th will be given a $0.0126 dividend. This is a positive change from Melco Crown Entertainment’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.05 annualized dividend and a yield of 0.27%. Melco Crown Entertainment’s payout ratio is currently 25.00%.

A number of hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. raised its stake in shares of Melco Crown Entertainment by 2.6% in the third quarter. Principal Financial Group Inc. now owns 13,492 shares of the company’s stock valued at $217,000 after buying an additional 346 shares in the last quarter. BlackRock Investment Management LLC increased its position in Melco Crown Entertainment by 0.3% in the third quarter. BlackRock Investment Management LLC now owns 171,587 shares of the company’s stock valued at $2,764,000 after buying an additional 449 shares during the last quarter. Hanson & Doremus Investment Management increased 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. increased 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. Finally, Mizuho Trust & Banking Co. Ltd. increased its position in Melco Crown Entertainment by 0.6% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 265,902 shares of the company’s stock valued at $4,284,000 after buying an additional 1,455 shares during the last quarter. 28.22% 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.

5 Day Chart for NASDAQ:MPEL

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