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Melco Crown Entertainment Limited (NASDAQ:MPEL) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, AnalystRatingsNetwork.com reports. They currently have a $38.40 price target on the stock. Zacks‘s price objective suggests a potential upside of 15.38% from the company’s current price.

MPEL has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Melco Crown Entertainment Limited in a research note on Friday. They now have a $47.00 price target on the stock, down previously from $51.00. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.67.

Shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) traded down 0.45% during mid-day trading on Tuesday, hitting $33.28. 3,040,867 shares of the company’s stock traded hands. Melco Crown Entertainment Limited has a 52 week low of $20.46 and a 52 week high of $45.70. The stock’s 50-day moving average is $36.15 and its 200-day moving average is $38.43. The company has a market cap of $18.318 billion and a P/E ratio of 22.51. Melco Crown Entertainment Limited also was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 6,187,240 shares, a growth of 103.0% from the April 15th total of 3,047,346 shares. Based on an average daily volume of 4,931,066 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.0% of the shares of the stock are sold short.

Melco Crown Entertainment Limited (NASDAQ:MPEL) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.41 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. Analysts expect that Melco Crown Entertainment Limited will post $1.76 EPS 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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