Melco Crown Entertainment Ltd Lowered to Equal Weight at Morgan Stanley (MPEL)
Melco Crown Entertainment Ltd (NASDAQ:MPEL) opened at 32.86 on Wednesday. Melco Crown Entertainment Ltd has a one year low of $20.46 and a one year high of $45.70. The stock’s 50-day moving average is $33.52 and its 200-day moving average is $38.22. The company has a market cap of $18.087 billion and a price-to-earnings ratio of 21.87.
Melco Crown Entertainment Ltd (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 Ltd’s revenue was up 18.5% compared to the same quarter last year. Analysts expect that Melco Crown Entertainment Ltd will post $1.73 EPS for the current fiscal year.
MPEL has been the subject of a number of other recent research reports. Analysts at Barclays initiated coverage on shares of Melco Crown Entertainment Ltd in a research note on Tuesday, June 10th. They set an “overweight” rating and a $51.43 price target on the stock. Separately, analysts at Telsey Advisory Group cut their price target on shares of Melco Crown Entertainment Ltd from $47.00 to $42.00 in a research note on Monday, June 9th. They now have a “not rated” rating on the stock. Finally, analysts at ISI Group downgraded shares of Melco Crown Entertainment Ltd to a “hold” rating in a research note on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Melco Crown Entertainment Ltd currently has a consensus rating of “Buy” and a consensus target price of $40.90.
Melco Crown Entertainment Limited is a holding company. The Company, along with its subsidiaries, is engaged in the gaming and hospitality business.
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