Trade Report: Today, Wells Fargo & Co. Reiterates “Neutral” Rating for Melco Crown Entertainment Ltd. (MPEL)

Today, Wells Fargo & Co. Reiterates “Neutral” Rating for Melco Crown Entertainment Ltd. (MPEL)

Melco Crown Entertainment Ltd. (NASDAQ:MPEL)‘s stock had its “neutral” rating reiterated by investment analysts at Wells Fargo & Co. in a research note issued on Monday. They currently have a $17.00 price objective on the stock, up from their prior price objective of $13.00. Wells Fargo & Co.’s price objective would suggest a potential downside of 11.92% from the stock’s previous close.

A number of other brokerages also recently issued reports on MPEL. 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. decreased 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. Buckingham Research started coverage on shares of Melco Crown Entertainment in a research note on Thursday, August 11th. They issued a “neutral” rating and a $15.50 price target for the company. Finally, BNP Paribas reiterated a “sell” rating on shares of Melco Crown Entertainment in a research note on Sunday, August 28th. 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 issued a strong buy rating to the company’s stock. Melco Crown Entertainment currently has an average rating of “Hold” and a consensus price target of $16.88.

Melco Crown Entertainment (NASDAQ:MPEL) traded up 0.42% during mid-day trading on Monday, hitting $19.30. 999,063 shares of the stock were exchanged. Melco Crown Entertainment has a 52-week low of $11.91 and a 52-week high of $20.00. The company has a 50 day moving average price of $0.00 and a 200 day moving average price of $0.00.

Melco Crown Entertainment (NASDAQ:MPEL) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.07. Melco Crown Entertainment had a net margin of 2.70% and a return on equity of 4.12%. The business earned $1.15 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities research analysts predict that Melco Crown Entertainment will post $0.38 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Tuesday, November 15th will be paid a $0.0126 dividend. This is a boost from Melco Crown Entertainment’s previous quarterly dividend of $0.01. This represents a $0.05 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, November 10th. Melco Crown Entertainment’s payout ratio is currently 25.00%.

Institutional investors have recently made changes to their positions in the stock. 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 in the last quarter. Hillhouse Capital Management Ltd. purchased a new position in shares of Melco Crown Entertainment during the third quarter valued at about $125,309,000. The Manufacturers Life Insurance Company purchased a new position in shares of Melco Crown Entertainment during the third quarter valued at about $1,397,000. Oaktree Capital Management LP purchased a new position in shares of Melco Crown Entertainment during the third quarter valued at about $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 in the last quarter. 28.22% of the stock is currently owned by institutional investors.

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