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Melco Crown Entertainment (MPEL) Falls: Stock Falls 5.7%
June 10, 2014

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Melco Crown Entertainment Limited saw a big move last session, as the company’s shares fell by nearly 6% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the most recent downtrend for MPEL, as the stock is now down 13% since May 28, 2014.

Although this slump was obviously disappointing, the company has seen 3 positive revisions and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for MPEL. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.

MPEL currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.0%.

Some better-ranked stocks in the services sector include Galaxy Entertainment Group Limited , MGM Resorts International (MGM - Free Report) and Multimedia Games Holding Company, Inc. . All these stocks carry a Zacks Rank #2 (Buy).

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