Morgan Stanley Has Lowered Expectations for Caesars Entertainment (NASDAQ:CZR) Stock Price

Caesars Entertainment (NASDAQ:CZR) had its price objective dropped by Morgan Stanley from $29.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 10.88% from the stock’s current price.

Several other research firms also recently commented on CZR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, October 8th. Macquarie reduced their target price on shares of Caesars Entertainment from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Jefferies Financial Group lowered Caesars Entertainment from a “buy” rating to a “hold” rating and lowered their price target for the company from $39.00 to $22.00 in a report on Tuesday, November 4th. JMP Securities dropped their price objective on Caesars Entertainment from $41.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Friday, October 17th. Finally, Wells Fargo & Company began coverage on Caesars Entertainment in a research report on Tuesday, November 18th. They set an “equal weight” rating and a $21.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.33.

Caesars Entertainment Trading Down 3.9%

Shares of NASDAQ CZR opened at $24.35 on Friday. Caesars Entertainment has a fifty-two week low of $18.25 and a fifty-two week high of $40.00. The company has a debt-to-equity ratio of 6.23, a quick ratio of 0.76 and a current ratio of 0.78. The company has a market cap of $4.97 billion, a price-to-earnings ratio of -21.17, a PEG ratio of 4.99 and a beta of 2.03. The business’s 50 day moving average price is $23.06 and its 200-day moving average price is $24.74.

Caesars Entertainment (NASDAQ:CZR) last announced its quarterly earnings data on Tuesday, October 28th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.16). Caesars Entertainment had a negative net margin of 2.12% and a negative return on equity of 5.76%. The business had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the company earned ($0.04) EPS. The business’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts expect that Caesars Entertainment will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CZR. JFS Wealth Advisors LLC raised its position in shares of Caesars Entertainment by 508.5% in the 2nd quarter. JFS Wealth Advisors LLC now owns 864 shares of the company’s stock worth $25,000 after acquiring an additional 722 shares in the last quarter. Hantz Financial Services Inc. grew its stake in Caesars Entertainment by 110.6% in the third quarter. Hantz Financial Services Inc. now owns 971 shares of the company’s stock valued at $26,000 after purchasing an additional 510 shares during the last quarter. Mather Group LLC. bought a new position in Caesars Entertainment in the third quarter worth about $28,000. Sunbelt Securities Inc. lifted its position in shares of Caesars Entertainment by 181.6% during the third quarter. Sunbelt Securities Inc. now owns 1,042 shares of the company’s stock valued at $28,000 after buying an additional 672 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Caesars Entertainment by 52.0% in the 2nd quarter. UMB Bank n.a. now owns 1,049 shares of the company’s stock valued at $30,000 after buying an additional 359 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.

Caesars Entertainment Company Profile

Caesars Entertainment Corporation is a leading integrated gaming and hospitality company headquartered in Las Vegas, Nevada. The company owns and operates a global portfolio of resorts, casinos, and entertainment venues designed to deliver comprehensive hospitality experiences. Its business activities span hotel accommodations, gaming operations, food and beverage services, live events, and convention services, with a focus on delivering luxury and entertainment to both leisure and business travelers.

The company traces its lineage to the founding of Harrah’s by William F.