Morgan Stanley Issues Pessimistic Forecast for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by Morgan Stanley from $30.00 to $29.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other research analysts also recently issued reports about the stock. JMP Securities lowered their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating for the company in a research report on Thursday, January 16th. Macquarie lowered their price target on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Capital One Financial raised Caesars Entertainment from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $51.00 to $47.00 in a research note on Thursday, April 3rd. Truist Financial dropped their target price on shares of Caesars Entertainment from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Jefferies Financial Group decreased their price target on shares of Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.14.

Caesars Entertainment Price Performance

Caesars Entertainment stock opened at $25.52 on Wednesday. The stock’s fifty day moving average price is $29.30 and its two-hundred day moving average price is $34.87. The firm has a market cap of $5.41 billion, a PE ratio of -15.28 and a beta of 2.67. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.84 and a quick ratio of 0.82. Caesars Entertainment has a one year low of $21.40 and a one year high of $45.93.

Caesars Entertainment (NASDAQ:CZR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.20. The business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.81 billion. Caesars Entertainment had a negative return on equity of 4.44% and a negative net margin of 3.20%. As a group, research analysts expect that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

Several hedge funds have recently modified their holdings of CZR. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Caesars Entertainment by 1.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,504 shares of the company’s stock worth $1,287,000 after purchasing an additional 408 shares during the period. Arizona State Retirement System increased its position in Caesars Entertainment by 0.8% in the 4th quarter. Arizona State Retirement System now owns 62,785 shares of the company’s stock valued at $2,098,000 after buying an additional 470 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its stake in Caesars Entertainment by 6.1% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 8,700 shares of the company’s stock worth $291,000 after buying an additional 500 shares during the period. Contrarian Capital Management L.L.C. boosted its holdings in Caesars Entertainment by 0.4% in the fourth quarter. Contrarian Capital Management L.L.C. now owns 118,000 shares of the company’s stock worth $3,944,000 after acquiring an additional 500 shares in the last quarter. Finally, Fifth Lane Capital LP grew its stake in Caesars Entertainment by 6.3% in the fourth quarter. Fifth Lane Capital LP now owns 8,500 shares of the company’s stock valued at $284,000 after acquiring an additional 500 shares during the period. Institutional investors own 91.79% of the company’s stock.

About Caesars Entertainment

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.