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Shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) were the recipient of a large growth in short interest in the month of 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, Analyst Ratings.Net reports. Based on an average daily trading volume, of 4,931,066 shares, the days-to-cover ratio is currently 1.3 days. Approximately 0.0% of the shares of the company are short sold.

MPEL has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Melco Crown Entertainment Limited from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $38.40 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Melco Crown Entertainment Limited in a research note on Friday, May 9th. They now have a $47.00 price target on the stock, down previously from $51.00. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Melco Crown Entertainment Limited from $50.00 to $51.00 in a research note on Friday, April 4th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Melco Crown Entertainment Limited presently has an average rating of “Buy” and a consensus price target of $37.67.

Melco Crown Entertainment Limited (NASDAQ:MPEL) opened at 33.28 on Wednesday. Melco Crown Entertainment Limited has a 1-year low of $20.46 and a 1-year high of $45.70. The stock has a 50-day moving average of $35.99 and a 200-day moving average of $38.43. The company has a market cap of $18.318 billion and a price-to-earnings ratio of 22.51.

Melco Crown Entertainment Limited (NASDAQ:MPEL) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.10 earnings per share. Melco Crown Entertainment Limited’s revenue was up 18.5% compared to the same quarter last year. 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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