Melco Crown Entertainment Ltd (ADR) (MPEL) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on Jun 2, 2016.
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.
On the company’s financial health, Melco Crown Entertainment Ltd (ADR) reported $0.07 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $0.09. The company had revenue of $1103.60 million for the quarter, 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.
Melco Crown Entertainment Ltd (ADR) closed down -0.14 points or -0.97% at $14.33 with 32,74,272 shares getting traded on Wednesday. Post opening the session at $14.22, the shares hit an intraday low of $13.97 and an intraday high of $14.43 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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.