Caesars Entertainment (NASDAQ:CZR) Given New $40.00 Price Target at Morgan Stanley

Caesars Entertainment (NASDAQ:CZR) had its target price trimmed by Morgan Stanley from $41.00 to $40.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the stock.

CZR has been the topic of a number of other reports. B. Riley initiated coverage on shares of Caesars Entertainment in a research report on Thursday, May 9th. They set a buy rating and a $70.00 price target on the stock. JMP Securities boosted their price target on shares of Caesars Entertainment from $58.00 to $59.00 and gave the stock a market outperform rating in a research report on Thursday, August 22nd. Stifel Nicolaus boosted their price target on shares of Caesars Entertainment from $54.00 to $56.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Jefferies Financial Group dropped their target price on shares of Caesars Entertainment from $62.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their target price on shares of Caesars Entertainment from $53.00 to $56.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $54.14.

Caesars Entertainment Price Performance

NASDAQ CZR opened at $36.87 on Wednesday. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of 10.44 and a beta of 2.99. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56. The company has a 50-day moving average price of $36.83 and a two-hundred day moving average price of $38.13. Caesars Entertainment has a 52 week low of $31.74 and a 52 week high of $55.71.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings results on Tuesday, July 30th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.68). Caesars Entertainment had a negative return on equity of 2.57% and a negative net margin of 2.44%. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Analysts forecast that Caesars Entertainment will post 0.06 EPS for the current year.

Institutional Trading of Caesars Entertainment

A number of hedge funds have recently modified their holdings of CZR. Russell Investments Group Ltd. lifted its holdings in shares of Caesars Entertainment by 25.1% in the fourth quarter. Russell Investments Group Ltd. now owns 53,299 shares of the company’s stock valued at $2,513,000 after purchasing an additional 10,680 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Caesars Entertainment by 21.1% during the fourth quarter. Victory Capital Management Inc. now owns 615,915 shares of the company’s stock worth $28,874,000 after acquiring an additional 107,120 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Caesars Entertainment by 2,096.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,196 shares of the company’s stock worth $103,000 after acquiring an additional 2,096 shares in the last quarter. M&T Bank Corp raised its holdings in shares of Caesars Entertainment by 57.8% during the fourth quarter. M&T Bank Corp now owns 16,800 shares of the company’s stock worth $788,000 after acquiring an additional 6,151 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Caesars Entertainment by 275.3% during the fourth quarter. National Bank of Canada FI now owns 259,754 shares of the company’s stock worth $12,411,000 after acquiring an additional 190,538 shares in the last quarter. Hedge funds and other institutional investors own 91.79% of the company’s stock.

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.