The stock of Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) is a huge mover today! About 3.46 million shares traded hands or 8.81% up from the average. Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) has risen 2.03% since February 29, 2016 and is uptrending. It has underperformed by 10.19% the S&P500.
The move comes after 9 months positive chart setup for the $8.96 billion company. It was reported on Oct, 3 by Barchart.com. We have $23.27 PT which if reached, will make NASDAQ:MPEL worth $3.76B more.
Analysts await Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) to report earnings on November, 3. They expect $0.05 earnings per share, down 54.55% or $0.06 from last year’s $0.11 per share. MPEL’s profit will be $27.33 million for 81.95 P/E if the $0.05 EPS becomes a reality. After $0.05 actual earnings per share reported by Melco Crown Entertainment Ltd (ADR) for the previous quarter, Wall Street now forecasts 0.00% EPS growth.
Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) Ratings Coverage
Out of 10 analysts covering Melco Crown Entertainment (NASDAQ:MPEL), 4 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 40% are positive. Melco Crown Entertainment has been the topic of 17 analyst reports since July 28, 2015 according to StockzIntelligence Inc. On Tuesday, October 6 the stock rating was upgraded by Deutsche Bank to “Hold”. The firm has “Underperform” rating by Macquarie Research given on Monday, September 21. The stock of Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) earned “Outperform” rating by Credit Suisse on Monday, October 12. Morgan Stanley upgraded the shares of MPEL in a report on Thursday, October 29 to “Equal-Weight” rating. HSBC upgraded the shares of MPEL in a report on Monday, October 12 to “Buy” rating. The firm earned “Hold” rating on Wednesday, April 20 by HSBC. The firm earned “Neutral” rating on Monday, October 5 by JP Morgan. Gabelli initiated the shares of MPEL in a report on Wednesday, December 9 with “Buy” rating. On Monday, January 11 the stock rating was upgraded by Morgan Stanley to “Overweight”. The firm earned “Neutral” rating on Monday, April 4 by Credit Suisse.
According to Zacks Investment Research, “Melco Crown Entertainment Limited is an owner and developer of casino gaming and entertainment resort facilities primarily in Macau. It owns and operates City of Dreams, Altira Macau and Mocha Clubs. The Company’s Development Project includes Macau Studio City Project. Melco Crown Entertainment Limited, formerly known as Melco PBL Entertainment (Macau) Limited, is headquartered in Macau.”
More news for Melco Crown Entertainment Ltd (ADR) (NASDAQ:MPEL) were recently published by: Marketwatch.com, which released: “Melco Crown Entertainment Ltd. ADR” on August 12, 2009. Fool.com‘s article titled: “Why Shares of Melco Crown Entertainment Ltd. (ADR) Dropped 13% in November” and published on December 06, 2015 is yet another important article.
MPEL Company Profile
Melco Crown Entertainment Limited, incorporated on December 17, 2004, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. The Firm 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. The Company’s business divisions are City of Dreams, Altira Macau, Studio City, Mocha Clubs, City of Dreams Manila, and Corporate and Others. The Firm has over three casino activities in Macau, namely, City of Dreams, Altira Macau and Studio City, and non-casino based activities in Macau at its Mocha Clubs. The Firm also has a casino operation in the Philippines, City of Dreams Manila. The Firm is developing the fifth hotel tower at City of Dreams in Cotai, Macau.
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