JP Morgan Maintains Melco Crown Entertainment Ltd (ADR) to Neutral with Price Target $14.00

Brokerage firm JP Morgan Maintains its rating on Melco Crown Entertainment Ltd (ADR)(NASDAQ:MPEL). In a research note issued to the investors, the brokerage major Lowers the price-target to $14.00 per share. The shares have been rated Neutral. The rating by JP Morgan was issued on Aug 5, 2016.

Melco Crown Entertainment Ltd (ADR) (MPEL) shares turned negative on Wednesdays trading session with the shares closing down -0.56 points or -3.65% at a volume of 33,19,854. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.43. The peak price level was also seen at $15.43 while the days lowest was $14.705. Finally the shares closed at $14.79. The 52-week high of the shares is $21.785 while the 52-week low is $11.905. According to the latest information available, the market cap of the company is $8,040 M.

Melco Crown Entertainment Ltd (ADR)(MPEL) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.07B. Analysts had an estimated revenue of $1.09B. Earnings per share were $0.06. Analysts had estimated an EPS of $0.06.

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.

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