Deutsche Bank AG Reiterates $23.00 Price Target for Melco Crown Entertainment Limited (MPEL)

Melco Crown Entertainment Limited (NASDAQ:MPEL) has been assigned a $23.00 target price by investment analysts at Deutsche Bank AG in a research report issued on Thursday. The firm currently has a “buy” rating on the stock. Deutsche Bank AG’s price target would indicate a potential upside of 36.01% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Credit Suisse Group set a $23.00 price objective on shares of Melco Crown Entertainment Limited and gave the company a “buy” rating in a research note on Thursday. Aegis reaffirmed a “buy” rating on shares of Melco Crown Entertainment Limited in a research note on Thursday. Vetr cut shares of Melco Crown Entertainment Limited from a “strong-buy” rating to a “buy” rating and set a $19.43 price objective for the company. in a research note on Monday. Morgan Stanley raised shares of Melco Crown Entertainment Limited from an “equal weight” rating to an “overweight” rating and set a $19.00 price objective for the company in a research note on Monday. Finally, Nomura raised shares of Melco Crown Entertainment Limited from a “reduce” rating to a “neutral” rating in a research note on Wednesday, January 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.65.

Analyst Recommendations for Melco Crown Entertainment Limited (NASDAQ:MPEL)

Melco Crown Entertainment Limited (NASDAQ:MPEL) traded up 0.41% during midday trading on Thursday, reaching $16.98. 1,765,558 shares of the company’s stock traded hands. Melco Crown Entertainment Limited has a 52-week low of $11.91 and a 52-week high of $20.00. The stock has a market cap of $8.28 billion, a P/E ratio of 73.83 and a beta of 2.11. The company’s 50-day moving average price is $16.82 and its 200-day moving average price is $16.31.

Melco Crown Entertainment Limited (NASDAQ:MPEL) last announced its quarterly earnings data on Thursday, February 16th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.00. Melco Crown Entertainment Limited had a net margin of 2.70% and a return on equity of 4.12%. The business earned $1.19 billion during the quarter. During the same period last year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, equities analysts predict that Melco Crown Entertainment Limited will post $0.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Monday, February 27th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.71%. This is a boost from Melco Crown Entertainment Limited’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, February 23rd. Melco Crown Entertainment Limited’s dividend payout ratio (DPR) is currently 25.00%.

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Several large investors have recently bought and sold shares of the company. GRATRY & Co LLC bought a new stake in Melco Crown Entertainment Limited during the third quarter valued at approximately $179,000. Sumitomo Mitsui Asset Management Company LTD bought a new stake in Melco Crown Entertainment Limited during the second quarter valued at approximately $181,000. Delta Lloyd NV bought a new stake in Melco Crown Entertainment Limited during the third quarter valued at approximately $263,000. Pacad Investment Ltd. bought a new stake in Melco Crown Entertainment Limited during the fourth quarter valued at approximately $274,000. Finally, Harbor Advisors LLC bought a new stake in Melco Crown Entertainment Limited during the fourth quarter valued at approximately $278,000. 32.19% of the stock is owned by hedge funds and other institutional investors.

Melco Crown Entertainment Limited 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.

5 Day Chart for NASDAQ:MPEL

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