Melco Crown Entertainment Ltd Hits New 12-Month Low at $26.32 (MPEL)
Shares of Melco Crown Entertainment Ltd (NASDAQ:MPEL) reached a new 52-week low on Tuesday , Analyst Ratings News reports. The stock traded as low as $26.32 and last traded at $26.32, with a volume of 5,868,061 shares changing hands. The stock had previously closed at $28.36.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley upgraded shares of Melco Crown Entertainment Ltd from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, August 26th. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. Melco Crown Entertainment Ltd currently has a consensus rating of “Buy” and a consensus price target of $42.73.
The stock’s 50-day moving average is $30.88 and its 200-day moving average is $35.24. The company has a market cap of $15.050 billion and a price-to-earnings ratio of 20.03. Melco Crown Entertainment Ltd also was the recipient of unusually large options trading on Tuesday. Stock investors purchased 15,490 call options on the company. This is an increase of 393% compared to the average volume of 3,143 call options.
Melco Crown Entertainment Ltd (NASDAQ:MPEL) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.33 earnings per share. Melco Crown Entertainment Ltd’s revenue was down 7.4% compared to the same quarter last year. 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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