Melco Crown Entertainment Ltd (MPEL): Today's Featured Leisure Winner
Melco Crown Entertainment (MPEL) pushed the Leisure industry higher today making it today's featured leisure winner. The industry as a whole closed the day down 0.9%. By the end of trading, Melco Crown Entertainment rose 7 cents (0.8%) to $8.80 on average volume. Throughout the day, 7.7 million shares of Melco Crown Entertainment exchanged hands as compared to its average daily volume of 9.1 million shares. The stock ranged in a price between $8.32-$8.87 after having opened the day at $8.67 as compared to the previous trading day's close of $8.73. Other companies within the Leisure industry that increased today were: J. Alexander's Corporation (JAX), up 7.2%, Isle of Capri Casinos (ISLE), up 6.5%, PokerTek (PTEK), up 4.9%, and Multimedia Games (MGAM), up 4.8%. 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 $4.8 billion and is part of the services sector. The company has a P/E ratio of 23.1, below the average leisure industry P/E ratio of 27 and above the S&P 500 P/E ratio of 17.7. Shares are up 44.7% year to date as of the close of trading on Tuesday. Currently there are eight analysts that rate Melco Crown Entertainment a buy, no analysts rate it a sell, and three rate it a hold. TheStreet Ratings rates Melco Crown Entertainment as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins.
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