Melco Crown Entertainment Ltd. (NASDAQ:MPEL) has earned a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the firm. Three analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $15.83.
A number of equities analysts recently commented on the company. Buckingham Research assumed coverage on Melco Crown Entertainment in a report on Thursday, August 11th. They set a “neutral” rating and a $15.50 target price for the company. Sanford C. Bernstein restated an “outperform” rating on shares of Melco Crown Entertainment in a report on Wednesday, June 8th. Goldman Sachs Group Inc. restated a “neutral” rating and set a $16.80 target price (up previously from $16.40) on shares of Melco Crown Entertainment in a report on Wednesday, June 8th. Zacks Investment Research upgraded Melco Crown Entertainment from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, July 19th. Finally, Credit Suisse Group AG restated a “hold” rating and set a $13.40 target price on shares of Melco Crown Entertainment in a report on Thursday, July 7th.
Several large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its stake in Melco Crown Entertainment by 16.0% in the second quarter. Daiwa Securities Group Inc. now owns 8,700 shares of the company’s stock valued at $109,000 after buying an additional 1,200 shares during the period. CIBC Asset Management Inc acquired a new stake in Melco Crown Entertainment during the second quarter valued at approximately $143,000. Principal Financial Group Inc. acquired a new stake in Melco Crown Entertainment during the second quarter valued at approximately $165,000. Prudential Financial Inc. boosted its stake in Melco Crown Entertainment by 27.8% in the second quarter. Prudential Financial Inc. now owns 13,709 shares of the company’s stock valued at $172,000 after buying an additional 2,985 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Melco Crown Entertainment during the second quarter valued at approximately $181,000. 27.77% of the stock is currently owned by institutional investors.
Melco Crown Entertainment (NASDAQ:MPEL) opened at 16.46 on Monday. Melco Crown Entertainment has a 12-month low of $11.91 and a 12-month high of $20.23. The stock has a market capitalization of $8.36 billion, a P/E ratio of 95.70 and a beta of 2.45. The firm’s 50-day moving average is $14.92 and its 200-day moving average is $14.55.
Melco Crown Entertainment (NASDAQ:MPEL) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.06 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. Melco Crown Entertainment had a return on equity of 3.79% and a net margin of 2.12%. The firm earned $1.07 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the previous year, the company posted $0.05 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. Analysts predict that Melco Crown Entertainment will post $0.30 EPS for the current fiscal year.
The firm also recently disclosed a dividend, which was paid on Wednesday, September 7th. Investors of record on Tuesday, August 16th were given a dividend of $0.019 per share. The ex-dividend date of this dividend was Friday, August 12th. Melco Crown Entertainment’s dividend payout ratio (DPR) is presently 23.53%.