Caesars Entertainment (NASDAQ:CZR) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Caesars Entertainment (NASDAQ:CZR) had its price objective upped by analysts at Morgan Stanley from $32.00 to $34.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 28.59% from the stock’s previous close.

CZR has been the topic of several other reports. Citigroup reiterated a “market outperform” rating on shares of Caesars Entertainment in a research note on Tuesday, March 10th. Wall Street Zen upgraded Caesars Entertainment from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. JPMorgan Chase & Co. cut their target price on Caesars Entertainment from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Susquehanna upgraded Caesars Entertainment from a “neutral” rating to a “positive” rating and increased their target price for the company from $25.00 to $31.00 in a research note on Thursday, January 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Caesars Entertainment in a research note on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.13.

Caesars Entertainment Stock Performance

Shares of CZR opened at $26.44 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.80 and a debt-to-equity ratio of 3.17. The business’s 50 day moving average price is $24.16 and its 200-day moving average price is $23.44. Caesars Entertainment has a 52 week low of $17.86 and a 52 week high of $31.58. The stock has a market cap of $5.38 billion, a P/E ratio of -10.88 and a beta of 1.87.

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

Hedge Funds Weigh In On Caesars Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of CZR. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Caesars Entertainment by 246,899,900.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,938,000 shares of the company’s stock worth $115,500,000 after purchasing an additional 4,937,998 shares in the last quarter. Morgan Stanley increased its stake in shares of Caesars Entertainment by 121.0% in the 4th quarter. Morgan Stanley now owns 7,141,899 shares of the company’s stock worth $167,049,000 after purchasing an additional 3,910,430 shares in the last quarter. Capital World Investors increased its stake in shares of Caesars Entertainment by 29.8% in the 3rd quarter. Capital World Investors now owns 16,193,070 shares of the company’s stock worth $437,622,000 after purchasing an additional 3,716,148 shares in the last quarter. Norges Bank purchased a new stake in shares of Caesars Entertainment in the 4th quarter worth $76,050,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Caesars Entertainment in the 4th quarter worth $65,492,000. 91.79% of the stock is owned by institutional investors.

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.