Melco Crown Entertainment Limited (MPEL - Free Report) is an owner and developer of casino gaming and entertainment resort facilities that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MPEL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Melco Crown Entertainment could be a solid choice for investors.
Current Quarter Estimates for MPEL
In the past 30 days, current quarter estimates for Melco Crown Entertainment have increased from 7 cents a share 30 days ago, to 8 today, a move of 14.3%.
Current Year Estimates for MPEL
Meanwhile, Melco Crown Entertainment’s current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 44 cents per share 30 days ago to 48 cents per share today, an increase of 9.1%.
The stock has also started to move higher lately, adding 5.4% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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