Melco Crown Entertainment Ltd Upgraded by Morgan Stanley to Overweight (MPEL)
Melco Crown Entertainment Ltd (NASDAQ:MPEL) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday.
MPEL has been the subject of a number of other recent research reports. Analysts at Sterne Agee reiterated a “buy” rating on shares of Melco Crown Entertainment Ltd in a research note on Friday, August 15th. They now have a $54.00 price target on the stock, down previously from $57.00. Separately, analysts at Zacks downgraded shares of Melco Crown Entertainment Ltd from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 12th. They now have a $27.60 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. Melco Crown Entertainment Ltd presently has a consensus rating of “Buy” and an average price target of $42.73.
Shares of Melco Crown Entertainment Ltd (NASDAQ:MPEL) opened at 28.70 on Tuesday. Melco Crown Entertainment Ltd has a one year low of $26.50 and a one year high of $45.70. The stock’s 50-day moving average is $31.57 and its 200-day moving average is $35.66. The company has a market cap of $15.809 billion and a price-to-earnings ratio of 20.54.
Melco Crown Entertainment Ltd (NASDAQ:MPEL) last announced its 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 prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down 7.4% on a year-over-year basis. Analysts expect that Melco Crown Entertainment Ltd will post $1.48 EPS for the current fiscal year.
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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