Shares of Melco Crown Entertainment Ltd (NASDAQ:MPEL) have been given a consensus rating of “Buy” by the twenty ratings firms that are covering the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $19.44.
A number of research firms have recently commented on MPEL. Vetr cut shares of Melco Crown Entertainment from a “strong-buy” rating to a “buy” rating and set a $19.15 target price for the company. in a report on Wednesday, March 1st. Zacks Investment Research lowered shares of Melco Crown Entertainment from a “buy” rating to a “hold” rating in a report on Friday, February 24th. Deutsche Bank AG set a $23.00 price objective on shares of Melco Crown Entertainment and gave the company a “buy” rating in a report on Thursday, February 16th. Credit Suisse Group AG set a $23.00 price objective on shares of Melco Crown Entertainment and gave the company a “buy” rating in a report on Thursday, February 16th. Finally, Aegis reiterated a “buy” rating and issued a $23.00 price objective on shares of Melco Crown Entertainment in a report on Thursday, February 16th.
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A number of hedge funds and other institutional investors have recently modified their holdings of MPEL. GRATRY & Co LLC purchased a new stake in Melco Crown Entertainment during the third quarter worth $179,000. Delta Lloyd NV purchased a new stake in Melco Crown Entertainment during the third quarter worth $263,000. Pacad Investment Ltd. purchased a new stake in Melco Crown Entertainment during the fourth quarter worth $274,000. Harbor Advisors LLC purchased a new stake in Melco Crown Entertainment during the fourth quarter worth $278,000. Finally, Janus Capital Management LLC purchased a new stake in Melco Crown Entertainment during the fourth quarter worth $339,000. Institutional investors and hedge funds own 32.19% of the company’s stock.
Melco Crown Entertainment (NASDAQ:MPEL) opened at 18.65 on Thursday. The company has a market cap of $9.10 billion, a price-to-earnings ratio of 54.06 and a beta of 2.11. The firm has a 50-day moving average of $16.88 and a 200-day moving average of $16.74. Melco Crown Entertainment has a 52 week low of $11.90 and a 52 week high of $20.00.
Melco Crown Entertainment (NASDAQ:MPEL) last posted its earnings results on Thursday, February 16th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by $0.00. The company earned $1.19 billion during the quarter. Melco Crown Entertainment had a return on equity of 4.12% and a net margin of 2.70%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) earnings per share. Equities analysts forecast that Melco Crown Entertainment will post $0.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Monday, February 27th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, February 23rd. This is a positive change from Melco Crown Entertainment’s previous quarterly dividend of $0.01. Melco Crown Entertainment’s dividend payout ratio (DPR) is 25.00%.
About Melco Crown Entertainment
Melco Crown Entertainment Limited is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. The Company is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.
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