Vetr Inc. Downgrades Melco Crown Entertainment Limited (MPEL) to Buy

Melco Crown Entertainment Limited (NASDAQ:MPEL) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday. They presently have a $19.43 price objective on the stock. Vetr‘s price objective would indicate a potential upside of 11.22% from the company’s current price.

Other analysts have also issued research reports about the stock. Morgan Stanley upgraded shares of Melco Crown Entertainment Limited from an “equal weight” rating to an “overweight” rating in a research note on Monday. Aegis assumed coverage on shares of Melco Crown Entertainment Limited in a research note on Thursday, December 22nd. They issued a “buy” rating and a $22.00 price objective on the stock. Citigroup Inc. reiterated a “buy” rating on shares of Melco Crown Entertainment Limited in a research note on Wednesday, November 30th. 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 target on the stock in a research report on Tuesday, November 8th. Finally, Wells Fargo & Company restated a “neutral” rating and set a $17.00 price target (up previously from $13.00) on shares of Melco Crown Entertainment Limited in a research report on Monday, November 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $17.28.

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

Shares of Melco Crown Entertainment Limited (NASDAQ:MPEL) traded up 3.50% on Monday, hitting $17.47. The stock had a trading volume of 3,502,380 shares. Melco Crown Entertainment Limited has a 12 month low of $11.91 and a 12 month high of $20.00. The stock has a market cap of $8.52 billion, a PE ratio of 75.96 and a beta of 2.11. The company has a 50 day moving average price of $16.70 and a 200-day moving average price of $16.27.

The company also recently disclosed a special dividend, which was paid on Friday, February 10th. Investors of record on Monday, January 23rd were given a dividend of $1.3212 per share. This is a boost from Melco Crown Entertainment Limited’s previous special dividend of $0.02. This represents a yield of 0.84%. The ex-dividend date was Thursday, January 19th. Melco Crown Entertainment Limited’s dividend payout ratio (DPR) is presently 25.00%.

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Large investors have recently added to or reduced their stakes in the company. GRATRY & Co LLC purchased a new stake in Melco Crown Entertainment Limited during the third quarter valued at about $179,000. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Melco Crown Entertainment Limited during the second quarter valued at about $181,000. Delta Lloyd NV purchased a new stake in Melco Crown Entertainment Limited during the third quarter valued at about $263,000. Pacad Investment Ltd. purchased a new stake in Melco Crown Entertainment Limited during the fourth quarter valued at about $274,000. Finally, Harbor Advisors LLC purchased a new stake in Melco Crown Entertainment Limited during the fourth quarter valued at about $278,000. Hedge funds and other institutional investors own 32.19% of the company’s stock.

About Melco Crown Entertainment Limited

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

To view Vetr’s full report, visit Vetr’s official website.

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