Trading Report: Today, Melco Crown Entertainment Ltd. (MPEL) Given “Neutral” Rating at Goldman Sachs Group Inc.

Today, Melco Crown Entertainment Ltd. (MPEL) Given “Neutral” Rating at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. restated their neutral rating on shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) in a research note released on Wednesday.

MPEL has been the subject of several other reports. Sanford C. Bernstein reissued an outperform rating on shares of Melco Crown Entertainment in a report on Wednesday, June 8th. Credit Suisse Group AG reissued a hold rating and issued a $13.40 price objective on shares of Melco Crown Entertainment in a report on Thursday, July 7th. Zacks Investment Research raised Melco Crown Entertainment from a hold rating to a buy rating and set a $14.00 price objective for the company in a report on Tuesday, July 19th. HSBC raised Melco Crown Entertainment from a hold rating to a buy rating in a report on Tuesday, July 19th. Finally, JPMorgan Chase & Co. decreased their price objective on Melco Crown Entertainment from $16.00 to $14.00 and set a neutral rating for the company in a report on Friday, August 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $17.76.

Shares of Melco Crown Entertainment (NASDAQ:MPEL) traded down 1.76% during midday trading on Wednesday, reaching $16.17. 1,013,369 shares of the company traded hands. Melco Crown Entertainment has a 1-year low of $11.91 and a 1-year high of $20.23. The stock’s 50-day moving average is $14.92 and its 200-day moving average is $14.55. The stock has a market capitalization of $8.21 billion, a P/E ratio of 94.01 and a beta of 2.45.

Melco Crown Entertainment (NASDAQ:MPEL) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.06 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.06. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.09 billion. Melco Crown Entertainment had a net margin of 2.12% and a return on equity of 3.79%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. Equities analysts predict that Melco Crown Entertainment will post $0.30 EPS for the current fiscal year.

The company also recently declared a dividend, which was paid on Wednesday, September 7th. Stockholders of record on Tuesday, August 16th were given a $0.019 dividend. The ex-dividend date of this dividend was Friday, August 12th. Melco Crown Entertainment’s dividend payout ratio is currently 23.53%.

Several hedge funds and other institutional investors have recently made changes to their positions in MPEL. Nomura Holdings Inc. boosted its position in shares of Melco Crown Entertainment by 767.5% in the second quarter. Nomura Holdings Inc. now owns 127,313 shares of the company’s stock worth $1,619,000 after buying an additional 112,637 shares in the last quarter. Tobam boosted its position in shares of Melco Crown Entertainment by 25.6% in the second quarter. Tobam now owns 86,893 shares of the company’s stock worth $1,093,000 after buying an additional 17,722 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Melco Crown Entertainment by 148.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 57,669 shares of the company’s stock worth $726,000 after buying an additional 34,482 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Melco Crown Entertainment during the second quarter worth $337,000. Finally, Legal & General Group Plc boosted its position in shares of Melco Crown Entertainment by 43.0% in the second quarter. Legal & General Group Plc now owns 65,478 shares of the company’s stock worth $824,000 after buying an additional 19,699 shares in the last quarter. Institutional investors and hedge funds own 27.77% of the company’s stock.

Melco Crown Entertainment Company Profile

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