Equities researchers at Credit Suisse assumed coverage on shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) in a research report issued on Wednesday, StockRatingsNetwork.com reports. The firm set a “positive” rating on the stock.
Shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) opened at 26.53 on Wednesday. Melco Crown Entertainment Limited has a one year low of $11.46 and a one year high of $27.75. The stock’s 50-day moving average is $25.20 and its 200-day moving average is $23.22. The company has a market cap of $14.589 billion and a P/E ratio of 32.75. Melco Crown Entertainment Limited also was the target of unusually large options trading activity on Monday. Traders bought 7,906 call options on the stock. This represents an increase of approximately 126% compared to the typical volume of 3,494 call options.
Melco Crown Entertainment Limited (NASDAQ:MPEL) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.33 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.05. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. Analysts expect that Melco Crown Entertainment Limited will post $1.13 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Standpoint Research upgraded shares of Melco Crown Entertainment Limited from an “in-line” rating to an “outperform” rating in a research note to investors on Monday, August 12th. They now have a $29.00 price target on the stock, up previously from $24.95. Separately, analysts at Jefferies Group raised their price target on shares of Melco Crown Entertainment Limited from $22.70 to $25.80 in a research note to investors on Thursday, August 8th. They now have a “hold” rating on the stock. Finally, analysts at Citigroup Inc. raised their EPS on shares of Melco Crown Entertainment Limited in a research note to investors on Thursday, August 8th. They now have a $37.50 price target on the stock.
One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. Melco Crown Entertainment Limited has a consensus rating of “Buy” and a consensus price target of $25.18.
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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