Morgan Stanley Boosts Caesars Entertainment (NASDAQ:CZR) Price Target to $32.00

Caesars Entertainment (NASDAQ:CZR - Get Free Report) had its price objective upped by research analysts at Morgan Stanley from $31.00 to $32.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's target price points to a potential upside of 6.24% from the company's previous close.

Several other research analysts have also commented on CZR. Raymond James Financial cut their price target on shares of Caesars Entertainment from $55.00 to $49.00 and set a "strong-buy" rating on the stock in a report on Wednesday, March 19th. Barclays raised their price target on shares of Caesars Entertainment from $44.00 to $45.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of Caesars Entertainment in a report on Monday. They issued a "buy" rating and a $36.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Caesars Entertainment in a report on Monday, June 23rd. They issued an "overweight" rating and a $47.00 price target on the stock. Finally, Susquehanna lifted their price objective on shares of Caesars Entertainment from $23.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $42.71.

Caesars Entertainment Price Performance

NASDAQ CZR traded down $1.39 during trading hours on Friday, reaching $30.12. The company's stock had a trading volume of 2,263,788 shares, compared to its average volume of 4,977,079. The stock has a market cap of $6.26 billion, a PE ratio of -27.54, a PEG ratio of 18.47 and a beta of 2.29. The company has a debt-to-equity ratio of 5.84, a quick ratio of 0.82 and a current ratio of 0.84. The company's 50-day moving average is $28.23 and its two-hundred day moving average is $29.98. Caesars Entertainment has a fifty-two week low of $21.40 and a fifty-two week high of $45.93.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.35). Caesars Entertainment had a negative return on equity of 2.60% and a negative net margin of 2.08%. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter in the previous year, the company earned ($0.73) earnings per share. The company's revenue was up 1.9% on a year-over-year basis. Analysts forecast that Caesars Entertainment will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Caesars Entertainment

Hedge funds and other institutional investors have recently modified their holdings of the company. DAVENPORT & Co LLC raised its stake in shares of Caesars Entertainment by 1,051.1% during the first quarter. DAVENPORT & Co LLC now owns 3,495,915 shares of the company's stock valued at $87,399,000 after purchasing an additional 3,192,224 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Caesars Entertainment by 14.8% during the fourth quarter. Capital Research Global Investors now owns 19,811,919 shares of the company's stock valued at $662,088,000 after purchasing an additional 2,555,876 shares in the last quarter. Hein Park Capital Management LP bought a new stake in shares of Caesars Entertainment during the first quarter valued at about $60,492,000. Norges Bank bought a new stake in shares of Caesars Entertainment during the fourth quarter valued at about $75,058,000. Finally, Cohen & Steers Inc. raised its stake in shares of Caesars Entertainment by 14.8% during the fourth quarter. Cohen & Steers Inc. now owns 14,581,882 shares of the company's stock valued at $487,265,000 after purchasing an additional 1,882,728 shares in the last quarter. Institutional investors and hedge funds 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.

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