Todays Report: Today, Melco Crown Entertainment Ltd. (MPEL) Stock Rating Upgrade by Credit Suisse Group AG

Today, Melco Crown Entertainment Ltd. (MPEL) Stock Rating Upgrade by Credit Suisse Group AG

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

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