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

Caesars Entertainment (NASDAQ:CZR) had its price target decreased by analysts at Morgan Stanley from $30.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 13.65% from the stock’s current price.

A number of other research analysts have also issued reports on CZR. Susquehanna dropped their price objective on shares of Caesars Entertainment from $30.00 to $23.00 and set a “neutral” rating for the company in a report on Monday. Barclays dropped their price target on shares of Caesars Entertainment from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. JMP Securities reduced their price objective on shares of Caesars Entertainment from $57.00 to $53.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 16th. Macquarie lowered their target price on Caesars Entertainment from $47.00 to $46.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Jefferies Financial Group reduced their price target on Caesars Entertainment from $52.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Caesars Entertainment presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.14.

Caesars Entertainment Stock Performance

NASDAQ CZR opened at $25.52 on Wednesday. The firm’s fifty day moving average price is $29.50 and its two-hundred day moving average price is $34.98. The stock 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 quick ratio of 0.82 and a current ratio of 0.84. Caesars Entertainment has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Bogart Wealth LLC increased its stake in Caesars Entertainment by 1,777.8% in the fourth quarter. Bogart Wealth LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 800 shares in the last quarter. FIL Ltd acquired a new stake in shares of Caesars Entertainment in the 4th quarter valued at about $28,000. Resona Asset Management Co. Ltd. bought a new stake in Caesars Entertainment in the 4th quarter valued at about $44,000. Canada Pension Plan Investment Board raised its stake in Caesars Entertainment by 100.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the company’s stock worth $53,000 after buying an additional 800 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new position in Caesars Entertainment in the fourth quarter worth approximately $71,000. Institutional investors and hedge funds 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.