Trade Report: The Wells Fargo & Co. Reaffirms Neutral Rating for Melco Crown Entertainment Ltd. (MPEL)

The Wells Fargo & Co. Reaffirms Neutral Rating for Melco Crown Entertainment Ltd. (MPEL)

Wells Fargo & Co. reissued their neutral rating on shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) in a research note published on Monday morning.

A number of other research analysts have also recently commented on MPEL. Credit Suisse Group AG restated a hold rating and set a $13.40 price target on shares of Melco Crown Entertainment in a research note on Thursday, July 7th. Zacks Investment Research upgraded shares of Melco Crown Entertainment from a hold rating to a buy rating and set a $14.00 price target for the company in a research note on Tuesday, July 19th. HSBC upgraded shares of Melco Crown Entertainment from a hold rating to a buy rating in a research note on Tuesday, July 19th. JPMorgan Chase & Co. cut their price target on shares of Melco Crown Entertainment from $16.00 to $14.00 and set a neutral rating for the company in a research note on Friday, August 5th. Finally, Buckingham Research initiated coverage on shares of Melco Crown Entertainment in a report on Thursday, August 11th. They set a neutral rating and a $15.50 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Melco Crown Entertainment currently has an average rating of Hold and an average price target of $16.97.

Shares of Melco Crown Entertainment (NASDAQ:MPEL) opened at 16.31 on Monday. The firm has a market cap of $8.28 billion, a P/E ratio of 94.83 and a beta of 2.45. Melco Crown Entertainment has a 12 month low of $11.91 and a 12 month high of $20.23. The stock’s 50 day moving average price is $15.30 and its 200-day moving average price is $14.56.

Melco Crown Entertainment (NASDAQ:MPEL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Melco Crown Entertainment had a net margin of 2.12% and a return on equity of 3.79%. The company’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 earnings per share. Equities research analysts anticipate that Melco Crown Entertainment will post $0.29 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in MPEL. Creative Planning raised its stake in Melco Crown Entertainment by 21.1% in the second quarter. Creative Planning now owns 56,294 shares of the company’s stock worth $708,000 after buying an additional 9,800 shares in the last quarter. British Columbia Investment Management Corp raised its stake in Melco Crown Entertainment by 89.4% in the second quarter. British Columbia Investment Management Corp now owns 81,978 shares of the company’s stock worth $1,031,000 after buying an additional 38,700 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Melco Crown Entertainment by 5.3% in the second quarter. BNP Paribas Arbitrage SA now owns 365,315 shares of the company’s stock worth $4,596,000 after buying an additional 18,425 shares in the last quarter. Sterling Ridge Capital Management LP acquired a new stake in Melco Crown Entertainment during the first quarter worth approximately $759,000. Finally, AMP Capital Investors Ltd raised its stake in Melco Crown Entertainment by 112.1% in the first quarter. AMP Capital Investors Ltd now owns 62,566 shares of the company’s stock worth $1,061,000 after buying an additional 33,071 shares in the last quarter. 27.77% of the stock is owned by hedge funds and other institutional investors.

Melco Crown Entertainment Company Profile

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