Morgan Stanley Cuts Caesars Entertainment (NASDAQ:CZR) Price Target to $40.00

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

CZR has been the topic of several other reports. B. Riley started coverage on Caesars Entertainment in a report on Thursday, May 9th. They set a buy rating and a $70.00 price target on the stock. JMP Securities lifted their price objective on shares of Caesars Entertainment from $58.00 to $59.00 and gave the company a market outperform rating in a research note on Thursday, August 22nd. Raymond James initiated coverage on Caesars Entertainment in a report on Tuesday, May 21st. They set a strong-buy rating and a $55.00 price objective for the company. Stifel Nicolaus lifted their price target on Caesars Entertainment from $54.00 to $56.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group cut their price target 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Caesars Entertainment has a consensus rating of Moderate Buy and a consensus target price of $54.14.

Caesars Entertainment Stock Down 0.6 %

CZR opened at $36.87 on Wednesday. Caesars Entertainment has a 1-year low of $31.74 and a 1-year high of $55.71. The stock has a market cap of $7.98 billion, a PE ratio of 10.44 and a beta of 2.96. The stock’s fifty day simple moving average is $36.83 and its 200 day simple moving average is $38.10. The company has a current ratio of 0.70, a quick ratio of 0.68 and a debt-to-equity ratio of 5.56.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in Caesars Entertainment by 25.1% during 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. boosted its stake in Caesars Entertainment by 21.1% during the 4th quarter. Victory Capital Management Inc. now owns 615,915 shares of the company’s stock valued at $28,874,000 after purchasing an additional 107,120 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Caesars Entertainment by 2,096.0% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,196 shares of the company’s stock valued at $103,000 after acquiring an additional 2,096 shares during the period. M&T Bank Corp lifted its holdings in shares of Caesars Entertainment by 57.8% during the 4th quarter. M&T Bank Corp now owns 16,800 shares of the company’s stock valued at $788,000 after buying an additional 6,151 shares during the period. Finally, National Bank of Canada FI lifted its stake in shares of Caesars Entertainment by 275.3% in the 4th quarter. National Bank of Canada FI now owns 259,754 shares of the company’s stock worth $12,411,000 after purchasing an additional 190,538 shares during the period. 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.