Melco Crown Entertainment Limited (NASDAQ: MPEL) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Monday. They currently have a $22.80 target price on the stock.
Melco Crown Entertainment Limited traded up 0.86% on Monday, hitting $21.00. Melco Crown Entertainment Limited has a 1-year low of $9.13 and a 1-year high of $21.48. The stock’s 50-day moving average is currently $19.97. The company has a market cap of $11.526 billion and a price-to-earnings ratio of 27.54.
Melco Crown Entertainment Limited last announced its earnings results on Wednesday, February 6th. The company reported $0.20 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.20. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts expect that Melco Crown Entertainment Limited will post $0.97 EPS for the current fiscal year.
MPEL has been the subject of a number of other recent research reports. Analysts at Ladenburg Thalmann downgraded shares of Melco Crown Entertainment Limited from a “buy” rating to a “neutral” rating in a research note to investors on Monday, February 4th. They now have a $7.00 price target on the stock. Separately, analysts at Morgan Stanley downgraded shares of Melco Crown Entertainment Limited from an “equal weight” rating to an “underweight” rating in a research note to investors on Monday, February 4th. Finally, analysts at Jefferies Group upgraded shares of Melco Crown Entertainment Limited from an “underperform” rating to a “hold” rating in a research note to investors on Monday, February 4th. They now have a $22.70 price target on the stock, up previously from $7.70.
Sixteen analysts have rated the stock with a buy rating, two have issued an overweight rating, and four have assigned a hold rating to the stock. The stock currently has an average rating of “buy” and a consensus price target of $24.30.
Melco Crown Entertainment Limited (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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