Morgan Stanley Lowers Caesars Entertainment (NASDAQ:CZR) Price Target to $29.00

Caesars Entertainment (NASDAQ:CZR) had its target price reduced by Morgan Stanley from $30.00 to $29.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential upside of 15.52% from the stock’s previous close.

Several other equities analysts have also recently issued reports on CZR. JPMorgan Chase & Co. lowered their price target on Caesars Entertainment from $58.00 to $57.00 and set an “overweight” rating on the stock in a research report on Friday, January 3rd. Raymond James lowered their target price on Caesars Entertainment from $55.00 to $49.00 and set a “strong-buy” rating on the stock in a report on Wednesday, March 19th. Jefferies Financial Group dropped their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Susquehanna reduced their price objective on shares of Caesars Entertainment from $30.00 to $23.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Capital One Financial upgraded shares of Caesars Entertainment from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $51.00 to $47.00 in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment has an average rating of “Moderate Buy” and a consensus target price of $47.71.

Caesars Entertainment Stock Performance

CZR traded up $0.03 during trading on Wednesday, reaching $25.10. 946,650 shares of the company were exchanged, compared to its average volume of 4,788,880. Caesars Entertainment has a 52 week low of $21.40 and a 52 week high of $45.93. The company has a current ratio of 0.84, a quick ratio of 0.82 and a debt-to-equity ratio of 2.84. The firm has a 50 day moving average of $29.92 and a 200 day moving average of $35.16. The stock has a market cap of $5.32 billion, a P/E ratio of -15.06 and a beta of 2.67.

Caesars Entertainment (NASDAQ:CZR) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.20. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. On average, sell-side analysts forecast that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

Large investors have recently added to or reduced their stakes in the company. Villere ST Denis J & Co. LLC grew its position in Caesars Entertainment by 6.2% during the 4th quarter. Villere ST Denis J & Co. LLC now owns 804,205 shares of the company’s stock worth $26,877,000 after acquiring an additional 47,294 shares during the last quarter. Cannell Capital LLC bought a new position in shares of Caesars Entertainment in the fourth quarter worth about $13,498,000. Guyasuta Investment Advisors Inc. acquired a new position in shares of Caesars Entertainment during the fourth quarter worth approximately $385,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Caesars Entertainment by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,876,971 shares of the company’s stock valued at $62,728,000 after purchasing an additional 11,671 shares in the last quarter. Finally, Key Colony Management LLC acquired a new position in Caesars Entertainment during the 4th quarter worth $6,350,000. 91.79% of the stock is owned by institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment, Inc operates as a gaming and hospitality company. The company owns, leases, or manages domestic properties in 18 states with slot machines, video lottery terminals and e-tables, and hotel rooms, as well as table games, including poker. It also operates and conducts retail and online sports wagering across 31 jurisdictions in North America and operates iGaming in five jurisdictions in North America; sports betting from our retail and online sportsbooks; and other games, such as keno.