Credit Suisse Group AG upgraded shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) from a neutral rating to an outperform rating in a report released on Monday morning.
MPEL has been the topic of several other research reports. Zacks Investment Research lowered Melco Crown Entertainment from a hold rating to a sell rating in a research note on Thursday, October 6th. Wells Fargo & Co. reaffirmed a neutral rating on shares of Melco Crown Entertainment in a research note on Monday, October 10th. BNP Paribas reaffirmed a sell rating on shares of Melco Crown Entertainment in a research note on Sunday, August 28th. Deutsche Bank AG raised Melco Crown Entertainment from a hold rating to a buy rating and upped their price target for the company from $14.00 to $17.00 in a research note on Friday, September 9th. Finally, Goldman Sachs Group Inc. reiterated a neutral rating on shares of Melco Crown Entertainment in a report on Wednesday, October 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $16.88.
Shares of Melco Crown Entertainment (NASDAQ:MPEL) opened at 19.22 on Monday. Melco Crown Entertainment has a 12 month low of $11.91 and a 12 month high of $20.00. The firm’s 50-day moving average price is $0.00 and its 200-day moving average price is $0.00.
Melco Crown Entertainment (NASDAQ:MPEL) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.07. Melco Crown Entertainment had a return on equity of 4.12% and a net margin of 2.70%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities research analysts forecast that Melco Crown Entertainment will post $0.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.0126 per share. The ex-dividend date of this dividend is Thursday, November 10th. This is an increase from Melco Crown Entertainment’s previous quarterly dividend of $0.01. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.26%. Melco Crown Entertainment’s dividend payout ratio (DPR) is presently 25.00%.
Several hedge funds and other institutional investors have recently bought and sold shares of MPEL. Credit Suisse AG boosted its position in shares of Melco Crown Entertainment by 63.8% in the third quarter. Credit Suisse AG now owns 3,724,596 shares of the company’s stock valued at $60,004,000 after buying an additional 1,450,047 shares during the period. Hillhouse Capital Management Ltd. bought a new position in shares of Melco Crown Entertainment during the third quarter valued at approximately $125,309,000. The Manufacturers Life Insurance Company bought a new position in shares of Melco Crown Entertainment during the third quarter valued at approximately $1,397,000. Oaktree Capital Management LP bought a new position in shares of Melco Crown Entertainment during the third quarter valued at approximately $2,133,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Melco Crown Entertainment by 22.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,803 shares of the company’s stock valued at $657,000 after buying an additional 7,412 shares during the period. Institutional investors and hedge funds own 28.22% of the company’s stock.
Melco Crown Entertainment Company Profile