Equities research analysts at JPMorgan Chase & Co. lifted their price objective on shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) from $33.00 to $40.00 in a research note issued to investors on Friday, AR Network reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price objective indicates a potential upside of 17.86% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Macquarie upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $41.50 price target on the stock, up previously from $26.00. Separately, analysts at Zacks upgraded shares of Melco Crown Entertainment Limited from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday. They now have a $35.10 price target on the stock. Finally, analysts at HSBC initiated coverage on shares of Melco Crown Entertainment Limited in a research note to investors on Thursday, September 19th. They set an “overweight” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $29.09.
Shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) traded up 3.95% on Friday, hitting $33.94. 4,019,299 shares of the company’s stock traded hands. Melco Crown Entertainment Limited has a 52-week low of $13.40 and a 52-week high of $33.59. The stock’s 50-day moving average is $30.21 and its 200-day moving average is $25.50. The company has a market cap of $18.662 billion and a price-to-earnings ratio of 40.31.
Melco Crown Entertainment Limited (NASDAQ:MPEL) last announced its earnings results 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 prior year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 38.0% on a year-over-year basis. On average, analysts predict that Melco Crown Entertainment Limited will post $1.16 earnings per share for the current fiscal year.
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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