Melco Crown Entertainment Limited Reaches New 12-Month High at $31.99 (MPEL)
Melco Crown Entertainment Limited (NASDAQ:MPEL)’s share price reached a new 52-week high on Wednesday, Stock Ratings Network.com reports. The company traded as high as $31.99 and last traded at $31.59, with a volume of 1,942,841 shares traded. The stock had previously closed at $30.91.
MPEL has been the subject of a number of recent research reports. Analysts at HSBC initiated coverage on shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) in a research note to investors on Thursday, September 19th. They set an “overweight” rating and a $43.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) from $30.00 to $32.70 in a research note to investors on Wednesday, September 11th. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank upgraded shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, September 11th.
One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $26.99.
Melco Crown Entertainment Limited has a one year low of $12.72 and a one year high of $31.95. The stock’s 50-day moving average is $28.28 and its 200-day moving average is $24.59. The company has a market cap of $17.359 billion and a P/E ratio of 38.16.
Melco Crown Entertainment Limited (NASDAQ:MPEL) last announced its earnings results on Wednesday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.05. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $0.15 earnings per share. Melco Crown Entertainment Limited’s revenue was up 38.0% compared to the same quarter last year. On average, analysts predict that Melco Crown Entertainment Limited will post $1.16 earnings per share for the current fiscal year.
Melco Crown Entertainment Limited (NASDAQ:MPEL) is a developer, owner and, through its subsidiary Melco Crown Gaming, operator of casino gaming and entertainment resort facilities focused on the Macau market.
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