Melco Crown Entertainment Ltd. (MPEL) Given Buy Rating at Citigroup Inc.
Melco Crown Entertainment Ltd. (NASDAQ:MPEL)‘s stock had its “buy” rating restated by equities researchers at Citigroup Inc. in a research note issued on Wednesday.
A number of other equities analysts also recently commented on the stock. BNP Paribas reiterated a “sell” rating on shares of Melco Crown Entertainment in a report on Sunday, August 28th. Macquarie initiated coverage on shares of Melco Crown Entertainment in a report on Thursday, September 8th. They issued an “outperform” rating for the company. Wells Fargo & Co. reiterated a “neutral” rating on shares of Melco Crown Entertainment in a report on Monday, October 10th. Zacks Investment Research downgraded shares of Melco Crown Entertainment from a “hold” rating to a “sell” rating in a report on Thursday, October 6th. Finally, Credit Suisse Group AG upgraded Melco Crown Entertainment from a “neutral” rating to an “outperform” rating in a research note on Monday, November 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $16.88.
Shares of Melco Crown Entertainment (NASDAQ:MPEL) opened at 19.12 on Wednesday. The firm’s 50-day moving average is $0.00 and its 200-day moving average is $0.00. Melco Crown Entertainment has a 1-year low of $11.91 and a 1-year high of $20.00.
Melco Crown Entertainment (NASDAQ:MPEL) last announced its earnings results on Thursday, November 3rd. The company reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.07. The business earned $1.15 billion during the quarter, compared to the consensus estimate of $1.09 billion. Melco Crown Entertainment had a net margin of 2.70% and a return on equity of 4.12%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 earnings per share. Analysts forecast that Melco Crown Entertainment will post $0.38 earnings per share 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 represents a $0.05 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, November 10th. This is a positive change from Melco Crown Entertainment’s previous quarterly dividend of $0.01. Melco Crown Entertainment’s dividend payout ratio is currently 25.00%.
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A number of large investors have recently added to or reduced their stakes in MPEL. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Melco Crown Entertainment by 59.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 436,465 shares of the company’s stock valued at $5,491,000 after buying an additional 163,052 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in shares of Melco Crown Entertainment by 66.7% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 80,000 shares of the company’s stock valued at $995,000 after buying an additional 32,000 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Melco Crown Entertainment during the second quarter valued at $181,000. Capital Fund Management S.A. acquired a new position in shares of Melco Crown Entertainment during the second quarter valued at $665,000. Finally, American Century Companies Inc. increased its position in shares of Melco Crown Entertainment by 52.7% in the second quarter. American Century Companies Inc. now owns 804,444 shares of the company’s stock valued at $10,120,000 after buying an additional 277,799 shares during the last quarter. Institutional investors and hedge funds own 29.16% of the company’s stock.
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.
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