MGM Resorts Stock Drops After Earnings Miss; Melco Crown Mixed
Feb 17 2017 by Johnny Bowman
Melco Crown Entertainment Limited (NASDAQ:MPEL) has been given a consensus recommendation of "Buy" by the twenty analysts that are covering the company.
The results showed that net revenue during the fourth quarter of last year grew about 13 percent year-on-year from USD1,058 million to nearly USD1,193. Zacks Investment Research upgraded shares of Melco Crown Entertainment Limited from a "hold" rating to a "strong-buy" rating and set a $20.00 price objective on the stock in a research report on Tuesday, November 8th.
08/11/2016 - Buckingham Research began new coverage on Melco Crown Entertainment Limited giving the company a "neutral" rating. BNP Paribas restated a "sell" rating on shares of Melco Crown Entertainment in a report on Sunday, August 28th. Finally, Credit Suisse Group AG upgraded Melco Crown Entertainment from a "neutral" rating to an "outperform" rating in a report on Monday, November 21st. If you are reading this news story on another domain, it was stolen and reposted in violation of USA & global copyright and trademark laws.
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Melco Crown Entertainment Ltd (ADR) opened for trading at $17.9 and hit $18.05 on the upside on Wednesday, eventually ending the session at $17.53, with a gain of 0.34% or 0.06 points. This Consumer Discretionary Sector stock now has the Market Capitalization of 8.67 Billion. The ADRs have traded between $11.90 and $20 over the past 52 weeks. The firm has a 50-day moving average price of $16.82 and a 200 day moving average price of $16.31.
Melco Crown Entertainment (NASDAQ:MPEL) last posted its quarterly earnings data on Thursday, November 3rd. Wells Fargo & Company reaffirmed a market perform rating on shares of Melco Crown Entertainment Limited in a report on Wednesday, January 25th.
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Melco Crown Entertainment Limited was upgraded to "overweight" by analysts at Morgan Stanley. The firm had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.17 billion. During the same period previous year, the business earned ($0.02) EPS. During the same period in the previous year, the firm posted $0.06 EPS. Shareholders of record on Monday, February 27th will be paid a dividend of $0.03 per share. This represents a yield of 0.84%. Melco Crown Entertainment Limited's dividend payout ratio (DPR) is presently 25.00%.
A number of hedge funds have recently made changes to their positions in the stock. Harris Associates L P raised its stake in shares of Melco Crown Entertainment by 25.9% in the second quarter.
12/22/2016 - Aegis Capital began new coverage on Melco Crown Entertainment Limited giving the company a "buy" rating.
"Melco Crown Entertainment Limited (MPEL) Issues Quarterly Earnings Results" was originally posted by Community Financial News and is the sole property of of Community Financial News.
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12/16/2016 - Melco Crown Entertainment Limited was upgraded to "buy" by analysts at UBS. They now have a Dollars 17 price target on the stock. Teachers Advisors LLC raised its stake in shares of Melco Crown Entertainment by 1,373.7% in the third quarter.