Melco Crown Entertainment Third Quarter Earnings Sneak Peek

Melco Crown Entertainment (NASDAQ:MPEL) will unveil its latest earnings on Thursday, November 10, 2011. Melco Crown Entertainment is a holding company which, through its subsidiaries, develops, owns, and operates casino gaming and entertainment resort facilities focused on the Macau market.

Melco Crown Entertainment Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 19 cents per share, a rise of more than threefold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 8 cents. Between one and three months ago, the average estimate moved up. It has risen from 11 cents during the last month. For the year, analysts are projecting net income of 42 cents per share, a rise of 2000% from last year.

Last quarter, the company came in at profit of 13 cents per share against a mean estimate of net income of 11 cents per share, beating estimates after missing them in the previous quarter. In the first quarter, it missed forecasts by 5 cents.

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Wall St. Revenue Expectations: On average, analysts predict $963.6 million in revenue this quarter, a rise of 32.6% from the year ago quarter. Analysts are forecasting total revenue of $3.67 billion for the year, a rise of 39% from last year’s revenue of $2.64 billion.

Analyst Ratings: Analysts are bullish on this stock with seven analysts rating it as a buy, none rating it as a sell and three rating it as a hold.

A Look Back: In the second quarter, the company swung to a profit of $66.7 million (12 cents a share) from a loss of $30.1 million (6 cents) a year earlier, beating analyst estimates. Revenue rose 67.3% to $960 million from $573.6 million.

Key Stats:

The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 62.2%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 92.9% from the year earlier quarter.

Competitors to Watch: Melco Crown Entertainment Ltd. (NYSE:MAS), Wynn Resorts, Limited (NASDAQ:WYNN), MGM Resorts International. (NYSE:MGM), Las Vegas Sands Corp. (NYSE:LVS), Century Casinos, Inc. (NASDAQ:CNTY), Ameristar Casinos, Inc. (NASDAQ:ASCA), Asia Entertainment & Resources Ltd. (NASDAQ:AERL), Trans World Corporation (TWOC), Riviera Holdings Corp. (RVHLQ), and Pinnacle Entertainment, Inc (NYSE:PNK).

Stock Price Performance: During October 7, 2011 to November 4, 2011, the stock price had risen $2.28 (24.1%) from $9.46 to $11.74. The stock price saw one of its best stretches over the last year between December 30, 2010 and January 12, 2011 when shares rose for 10-straight days, rising 17.9% (+$1.13) over that span. It saw one of its worst periods between December 1, 2010 and December 15, 2010 when shares fell for 11-straight days, falling 9.4% (-58 cents) over that span. Shares are up $5.38 (+84.6%) year to date.

(Source: Xignite Financials)

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