Melco Crown Entertainment Ltd Sees Unusually Large Options Volume (MPEL)
Shares of Melco Crown Entertainment Ltd (NASDAQ:MPEL) were the target of unusually large options trading activity on Tuesday. Investors bought 15,490 call options on the company, Analyst Ratings Net reports. This is an increase of approximately 393% compared to the typical daily volume of 3,143 call options.
A number of analysts have recently weighed in on MPEL shares. 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $42.73.
Shares of Melco Crown Entertainment Ltd (NASDAQ:MPEL) traded down 3.67% during mid-day trading on Tuesday, hitting $27.32. 10,317,539 shares of the company’s stock traded hands. Melco Crown Entertainment Ltd has a 52-week low of $27.43 and a 52-week high of $45.70. 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 (NASDAQ:MPEL) last announced its earnings results 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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