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Melco Crown Entertainment Ltd (NASDAQ:MPEL) has received an average recommendation of “Buy” from the sixteen analysts that are presently covering the company, American Banking & Market News reports. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $41.31.

Shares of Melco Crown Entertainment Ltd (NASDAQ:MPEL) traded down 4.34% during mid-day trading on Thursday, hitting $28.715. 4,482,004 shares of the company’s stock traded hands. Melco Crown Entertainment Ltd has a 1-year low of $25.53 and a 1-year high of $45.70. The stock has a 50-day moving average of $33.55 and a 200-day moving average of $36.73. The company has a market cap of $15.806 billion and a price-to-earnings ratio of 20.21. Melco Crown Entertainment Ltd also was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 10,226 call options on the stock. This represents an increase of 129% compared to the average volume of 4,468 call options.

Melco Crown Entertainment Ltd (NASDAQ:MPEL) last released its earnings data on Thursday, August 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by $0.06. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts expect that Melco Crown Entertainment Ltd will post $1.66 EPS for the current fiscal year.

A number of analysts have recently weighed in on MPEL shares. Analysts at JPMorgan Chase & Co. cut their price target on shares of Melco Crown Entertainment Ltd from $47.00 to $46.00 in a research note on Wednesday, July 9th. Separately, analysts at Credit Suisse initiated coverage on shares of Melco Crown Entertainment Ltd in a research note on Tuesday, July 1st. They set an “outperform” rating and a $44.00 price target on the stock. Finally, analysts at Buckingham Research initiated coverage on shares of Melco Crown Entertainment Ltd in a research note on Friday, June 27th. They set a “buy” rating on the stock.

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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