Melco Crown Entertainment Limited (MPEL) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Melco Crown Entertainment Limited (NASDAQ:MPEL) issued its quarterly earnings data on Wednesday. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.03, AnalystRatingsNetwork.com reports. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 26.6% on a year-over-year basis.
Melco Crown Entertainment Limited (NASDAQ:MPEL) opened at 42.92 on Wednesday. Melco Crown Entertainment Limited has a 52 week low of $17.76 and a 52 week high of $45.48. The stock has a 50-day moving average of $41.30 and a 200-day moving average of $34.47. The company has a market cap of $23.621 billion and a price-to-earnings ratio of 37.09. Melco Crown Entertainment Limited also saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 4,163,812 shares, a decline of 27.0% from the January 15th total of 5,706,515 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 4,516,819 shares, the days-to-cover ratio is currently 0.9 days.
Several analysts have recently commented on the stock. Analysts at Sterne Agee reiterated a “buy” rating on shares of Melco Crown Entertainment Limited in a research note on Thursday, December 12th. They now have a $37.41 price target on the stock, down previously from $46.00. Analysts at Goldman Sachs downgraded shares of Melco Crown Entertainment Limited from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $36.74.
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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