Melco Crown Entertainment Limited Upgraded by Zacks to “Outperform” (MPEL)
Melco Crown Entertainment Limited (NASDAQ:MPEL) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, AnalystRatingsNetwork reports. The firm currently has a $35.10 price target on the stock. Zacks‘ price objective indicates a potential upside of 7.24% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at HSBC initiated coverage on shares of Melco Crown Entertainment Limited 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 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 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 fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $27.53.
Melco Crown Entertainment Limited (NASDAQ:MPEL) traded down 3.15% on Tuesday, hitting $31.70. 4,617,440 shares of the company’s stock traded hands. Melco Crown Entertainment Limited has a 1-year low of $12.87 and a 1-year high of $33.59. The stock’s 50-day moving average is $29.80 and its 200-day moving average is $25.33. The company has a market cap of $17.431 billion and a P/E ratio of 40.41.
Melco Crown Entertainment Limited (NASDAQ:MPEL) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 38.0% on a year-over-year basis.
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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