Melco Crown Entertainment Limited Upgraded by Jefferies Group to Buy (MPEL)
Melco Crown Entertainment Limited (NASDAQ:MPEL) was upgraded by research analysts at Jefferies Group from a “hold” rating to a “buy” rating in a report released on Wednesday, TheFlyOnTheWall.com reports.
Melco Crown Entertainment Limited (NASDAQ:MPEL) traded up 1.58% on Wednesday, hitting $34.70. The stock had a trading volume of 1,139,461 shares. Melco Crown Entertainment Limited has a one year low of $13.43 and a one year high of $34.91. The stock’s 50-day moving average is $30.79 and its 200-day moving average is $25.75. The company has a market cap of $19.080 billion and a price-to-earnings ratio of 42.17.
Melco Crown Entertainment Limited (NASDAQ:MPEL) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters 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. On average, analysts predict that Melco Crown Entertainment Limited will post $1.16 earnings per share for the current fiscal year.
A number of other firms have also recently commented on MPEL. Analysts at JPMorgan Chase & Co. raised their price target on shares of Melco Crown Entertainment Limited from $33.00 to $40.00 in a research note to investors on Friday, October 11th. They now have an “overweight” rating on the stock. Separately, analysts at Macquarie upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, October 11th. They now have a $41.50 price target on the stock, up previously from $26.00. Finally, analysts at Zacks upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 8th. They now have a $35.10 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. Melco Crown Entertainment Limited presently has a consensus rating of “Buy” and a consensus price target of $29.31.
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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