Melco Crown Entertainment Ltd Stock Rating Lowered by Zacks (MPEL)
Melco Crown Entertainment Ltd (NASDAQ:MPEL) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday. They currently have a $27.60 price target on the stock. Zacks‘s price target suggests a potential downside of 4.86% from the stock’s previous close.
Melco Crown Entertainment Ltd (NASDAQ:MPEL) traded down 1.65% during mid-day trading on Tuesday, hitting $28.53. 2,093,788 shares of the company’s stock traded hands. Melco Crown Entertainment Ltd has a 52-week low of $26.06 and a 52-week high of $45.70. The stock has a 50-day moving average of $33.19 and a 200-day moving average of $36.43. The company has a market cap of $15.715 billion and a price-to-earnings ratio of 20.49.
Melco Crown Entertainment Ltd (NASDAQ:MPEL) last posted its quarterly earnings results 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 $1.58 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MPEL. 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $40.23.
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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