Melco Crown Entertainment Limited Rating Lowered to Hold at ISI Group (MPEL)
Melco Crown Entertainment Limited (NASDAQ:MPEL) was downgraded by research analysts at ISI Group to a “hold” rating in a report released on Monday, TheFlyOnTheWall.com reports.
Shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) traded down 5.53% on Monday, hitting $30.75. The stock had a trading volume of 3,478,271 shares. 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 $34.26 and a 200-day moving average of $38.32. The company has a market cap of $16.926 billion and a P/E ratio of 21.92.
Melco Crown Entertainment Limited (NASDAQ:MPEL) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.10 earnings per share. The company’s revenue for the quarter 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.
A number of other analysts have also recently weighed in on MPEL. Analysts at Zacks downgraded shares of Melco Crown Entertainment Limited from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 13th. 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. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Melco Crown Entertainment Limited has an average rating of “Buy” and an average target price of $39.45.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.