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

Key Points

• Morgan Stanley has decreased the price target for Caesars Entertainment from $32.00 to $31.00, maintaining an "equal weight" rating, indicating a potential upside of 23.57% from the current price.
• Several analysts have varying opinions on the stock, with four recommending hold, twelve providing buy ratings, and one issuing a strong buy rating, resulting in a consensus rating of "Moderate Buy" with an average target price of $42.47.
• Caesars Entertainment reported a quarterly earnings miss with an EPS of (0.39), falling short of expectations, despite a year-over-year revenue increase of 2.7% to $2.91 billion.

Caesars Entertainment (NASDAQ:CZR - Free Report) had its price objective cut by Morgan Stanley from $32.00 to $31.00 in a report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

CZR has been the topic of several other research reports. Truist Financial cut their price objective on Caesars Entertainment from $38.00 to $37.00 and set a "buy" rating on the stock in a research report on Wednesday, July 30th. Citigroup reissued a "market outperform" rating on shares of Caesars Entertainment in a research note on Friday, July 18th. Barclays cut their price target on shares of Caesars Entertainment from $45.00 to $43.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Cfra reiterated a "hold" rating and set a $50.00 price objective on shares of Caesars Entertainment in a report on Friday, July 11th. Finally, The Goldman Sachs Group began coverage on shares of Caesars Entertainment in a research note on Monday, July 7th. They issued a "buy" rating and a $36.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy 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 $42.47.

Caesars Entertainment Trading Up 1.3%

Shares of Caesars Entertainment stock traded up $0.33 during trading on Wednesday, hitting $24.47. The stock had a trading volume of 2,813,428 shares, compared to its average volume of 5,532,644. The stock has a market cap of $5.09 billion, a PE ratio of -26.60 and a beta of 2.40. Caesars Entertainment has a 12 month low of $21.40 and a 12 month high of $45.93. The firm's fifty day simple moving average is $28.14 and its 200-day simple moving average is $29.33. The company has a debt-to-equity ratio of 6.08, a current ratio of 0.82 and a quick ratio of 0.81.

Caesars Entertainment (NASDAQ:CZR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.46). Caesars Entertainment had a negative net margin of 1.71% and a negative return on equity of 4.55%. The business had revenue of $2.91 billion for the quarter, compared to analysts' expectations of $2.85 billion. During the same quarter last year, the firm earned ($0.56) EPS. The firm's quarterly revenue was up 2.7% on a year-over-year basis. As a group, sell-side analysts expect that Caesars Entertainment will post -0.77 EPS for the current fiscal year.

Institutional Trading of Caesars Entertainment

Hedge funds have recently bought and sold shares of the stock. Impax Asset Management Group plc purchased a new stake in shares of Caesars Entertainment during the second quarter valued at about $1,003,000. Police & Firemen s Retirement System of New Jersey lifted its position in Caesars Entertainment by 3.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 79,095 shares of the company's stock valued at $2,246,000 after acquiring an additional 2,290 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Caesars Entertainment by 25.2% in the second quarter. PNC Financial Services Group Inc. now owns 20,594 shares of the company's stock valued at $585,000 after acquiring an additional 4,148 shares in the last quarter. ProShare Advisors LLC grew its holdings in Caesars Entertainment by 152.5% in the second quarter. ProShare Advisors LLC now owns 81,207 shares of the company's stock worth $2,305,000 after purchasing an additional 49,047 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Caesars Entertainment during the second quarter worth $954,000. Hedge funds and other institutional investors 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.