Melco Crown Entertainment Ltd (MPEL): Today's Featured Leisure Loser
Melco Crown Entertainment (MPEL) pushed the Leisure industry lower today making it today's featured Leisure loser. The industry as a whole closed the day down 1.8%. By the end of trading, Melco Crown Entertainment fell 57 cents (-4.7%) to $11.47 on light volume. Throughout the day, 6.3 million shares of Melco Crown Entertainment exchanged hands as compared to its average daily volume of 10.4 million shares. The stock ranged in price between $11.32-$11.87 after having opened the day at $11.60 as compared to the previous trading day's close of $12.04. Other company's within the Leisure industry that declined today were: Morgans Hotel Group Company (MHGC), down 9.1%, Empire Resorts Inc (NYNY), down 8.2%, Good Times Restaurants Inc (GTIM), down 5.4%, and Bravo Brio Restaurant Group Inc (BBRG), down 5.2%. Melco Crown Entertainment Limited, through its subsidiaries, engages in the development, ownership, and operation of casino gaming and entertainment resort facilities primarily in Macau. Melco Crown Entertainment has a market cap of $5.6 billion and is part of the services sector. The company has a P/E ratio of 57.4, below the average leisure industry P/E ratio of 102.7 and above the S&P 500 P/E ratio of 17.7. Shares are up 87.4% year to date as of the close of trading on Friday. TheStreet Ratings rates Melco Crown Entertainment as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company's profit margins have been poor overall.
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