Melco Crown Entertainment Ltd (ADR) (MPEL) reported quarterly earnings results on Wednesday, May-4-2016. The company reported $0.07 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $0.09. The company posted revenue of $1103.60 million in the period, compared to analysts expectations of $1140.77 million. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.
Many Wall Street Analysts have commented on Melco Crown Entertainment Ltd (ADR). Melco Crown Entertainment Ltd (ADR) was Downgraded by HSBC Securities to ” Hold” on Apr 20, 2016. Melco Crown Entertainment Ltd (ADR) was Downgraded by Credit Suisse to ” Neutral” on Apr 4, 2016. Melco Crown Entertainment Ltd (ADR) was Upgraded by Macquarie to ” Neutral” on Mar 17, 2016.
Melco Crown Entertainment Ltd (ADR) opened for trading at $15.12 and hit $15.62 on the upside on Monday, eventually ending the session at $15.36, with a gain of 3.78% or 0.56 points. The heightened volatility saw the trading volume jump to 23,70,970 shares. Company has a market cap of $8,350 M.
Melco Crown Entertainment Limited is a developer owner and operator of casino gaming and entertainment resort facilities. The Company is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in two geographic areas: Macau and the Philippines. The Company has two casino based operations in Macau namely City of Dreams and Altira Macau and non-casino based operations in Macau at its Mocha Clubs. The Company also has a casino based operation in the Philippines City of Dreams Manila. The Company is developing the Studio City project a cinematically-themed integrated entertainment retail and gaming resort. The Company’s other premises include Taipa Square Casino a casino on Taipa Island Macau operating within Hotel Taipa Square including the fit-out and gaming related equipment.