Morgan Stanley Forecasts Strong Price Appreciation for Caesars Entertainment (NASDAQ:CZR) Stock

Caesars Entertainment (NASDAQ:CZR) had its price objective raised by Morgan Stanley from $25.00 to $32.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 14.04% from the company’s previous close.

CZR has been the topic of several other research reports. Zacks Research raised shares of Caesars Entertainment from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. JPMorgan Chase & Co. dropped their price objective on shares of Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft cut their price objective on Caesars Entertainment from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. Barclays reduced their target price on Caesars Entertainment from $39.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Finally, Truist Financial dropped their price target on Caesars Entertainment from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Caesars Entertainment presently has an average rating of “Moderate Buy” and an average target price of $33.65.

Caesars Entertainment Trading Down 1.2%

Shares of CZR stock opened at $28.06 on Thursday. The stock has a market cap of $5.71 billion, a P/E ratio of -11.55 and a beta of 1.94. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 3.17. Caesars Entertainment has a fifty-two week low of $17.86 and a fifty-two week high of $31.58. The business has a fifty day simple moving average of $22.99 and a 200-day simple moving average of $23.35.

Caesars Entertainment (NASDAQ:CZR) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.18) by ($1.05). The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Caesars Entertainment had a negative return on equity of 7.97% and a negative net margin of 4.37%.Caesars Entertainment’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, analysts forecast that Caesars Entertainment will post -0.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caesars Entertainment

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in Caesars Entertainment by 47.7% in the 1st quarter. AQR Capital Management LLC now owns 39,297 shares of the company’s stock worth $953,000 after acquiring an additional 12,698 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Caesars Entertainment by 8.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,830 shares of the company’s stock worth $496,000 after purchasing an additional 1,623 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Caesars Entertainment by 106.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,599,273 shares of the company’s stock worth $39,982,000 after purchasing an additional 826,356 shares during the last quarter. Woodline Partners LP grew its position in shares of Caesars Entertainment by 40.7% in the first quarter. Woodline Partners LP now owns 17,952 shares of the company’s stock valued at $449,000 after purchasing an additional 5,192 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Caesars Entertainment by 0.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 506,585 shares of the company’s stock valued at $12,665,000 after purchasing an additional 3,198 shares during the period. Hedge funds and other institutional investors own 91.79% of the company’s stock.

About Caesars Entertainment

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.