Melco Crown Entertainment Limited (NASDAQ:MPEL) issued its quarterly earnings data on Wednesday. The company reported $0.33 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.05, AnalystRatingsNetwork.com reports. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $0.15 earnings per share. Melco Crown Entertainment Limited’s revenue was up 38.0% compared to the same quarter last year.
MPEL has been the subject of a number of recent research reports. Analysts at BNP Paribas initiated coverage on shares of Melco Crown Entertainment Limited in a research note to investors on Monday. They set a “buy” rating on the stock. On the ratings front, analysts at UBS AG upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, July 30th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Melco Crown Entertainment Limited in a research note to investors on Thursday, July 11th.
One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. Melco Crown Entertainment Limited has a consensus rating of “Buy” and an average price target of $23.18.
Shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) traded up 0.44% during mid-day trading on Wednesday, hitting $26.1658. Melco Crown Entertainment Limited has a one year low of $10.01 and a one year high of $26.42. The stock’s 50-day moving average is currently $23.58. The company has a market cap of $14.369 billion and a P/E ratio of 41.35.
Melco Crown Entertainment Limited (NASDAQ:MPEL) is a developer, owner and, through its subsidiary Melco Crown Gaming, operator of casino gaming and entertainment resort facilities focused on the Macau market.
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