Share on StockTwits

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.

To view Zacks’ full report, visit Zacks’ official website.

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.