Melco Crown Entertainment Ltd. (MPEL) Earns Buy Rating from Analysts at Aegis

Melco Crown Entertainment Ltd. (MPEL) Earns Buy Rating from Analysts at Aegis

Aegis initiated coverage on shares of Melco Crown Entertainment Ltd. (NASDAQ:MPEL) in a report published on Thursday. The firm issued a buy rating and a $22.00 price target on the stock.

Several other research firms have also issued reports on MPEL. Citigroup Inc. restated a buy rating on shares of Melco Crown Entertainment in a research report on Wednesday, November 30th. Credit Suisse Group AG upgraded shares of Melco Crown Entertainment from a neutral rating to an outperform rating in a research report on Monday, November 21st. Sanford C. Bernstein restated an outperform rating on shares of Melco Crown Entertainment in a research report on Friday, December 2nd. Wells Fargo & Co. restated a neutral rating and issued a $17.00 price target (up from $13.00) on shares of Melco Crown Entertainment in a research report on Monday, November 7th. Finally, Zacks Investment Research upgraded shares of Melco Crown Entertainment from a hold rating to a strong-buy rating and set a $20.00 price target on the stock in a research report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $16.96.

Shares of Melco Crown Entertainment (NASDAQ:MPEL) opened at 15.68 on Thursday. The firm has a 50 day moving average of $0.00 and a 200 day moving average of $0.00. Melco Crown Entertainment has a 52 week low of $11.90 and a 52 week high of $20.00.

Melco Crown Entertainment (NASDAQ:MPEL) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.07. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.09 billion. Melco Crown Entertainment had a net margin of 2.70% and a return on equity of 4.12%. The business’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. Equities research analysts forecast that Melco Crown Entertainment will post $0.39 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Tuesday, November 15th were issued a dividend of $0.0126 per share. This is an increase from Melco Crown Entertainment’s previous quarterly dividend of $0.01. This represents a $0.05 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend was Thursday, November 10th. Melco Crown Entertainment’s dividend payout ratio (DPR) is currently 25.00%.

A number of institutional investors have recently made changes to their positions in MPEL. Credit Suisse AG increased its position in shares of Melco Crown Entertainment by 63.8% in the third quarter. Credit Suisse AG now owns 3,724,596 shares of the company’s stock valued at $60,004,000 after buying an additional 1,450,047 shares in the last quarter. Hillhouse Capital Management Ltd. purchased a new position in shares of Melco Crown Entertainment during the third quarter valued at about $125,309,000. The Manufacturers Life Insurance Company purchased a new position in shares of Melco Crown Entertainment during the third quarter valued at about $1,397,000. Oaktree Capital Management LP purchased a new position in shares of Melco Crown Entertainment during the third quarter valued at about $2,133,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Melco Crown Entertainment by 22.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,803 shares of the company’s stock valued at $657,000 after buying an additional 7,412 shares in the last quarter. 29.05% of the stock is owned by hedge funds and other institutional investors.

Melco Crown Entertainment Company Profile

Melco Crown Entertainment Limited is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. The Company is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines.

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